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Daimler Truck Holding's valuation is downgraded to 'Hold' with a €34/share price target. ZEV/BEV sales account for just over 1% of total units despite heavy investment. Management forecasts declining EPS and EBIT in 2026, contrasting analyst expectations of a sharp earnings rebound. Negative free cash flow and low ZEV adoption challenge current valuations above €40/share.
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