DaimlerChrysler "underweight"

04/05/05 - Prudential Financial

NEW YORK, April 5 (newratings.com) - Analyst Michael Bruynesteyn of Prudential Financial maintains his "underweight" rating on DaimlerChrysler AG (DCX). The target price is set to $36.

In a research note published yesterday, the analyst mentions that the company has announced a €1.2 billion restructuring programme for its Smart unit. DaimlerChrysler aims to achieve breakeven at its Smart unit by 2007, while stopping the production of the Smart Roadster. The company has also abandoned the Smart SUV.