BNP raises DaimlerChrysler price target

FRANKFURT - BNP Paribas said Tuesday it had raised its price target on DaimlerChrysler to 55 euros from 48, citing a growing market in the United States.

"We believe that in the fourth quarter, Chrysler's performance will improve once again," BNP analysts said in a research note. They reiterated an "outperform" rating on the stock.

They noted that although Chrysler's sales in the United States fell 6 percent in November, this was because of a collapse in daily rental fleet sales.

"Retail sales, which are more profitable, rose as did light trucks. Chrysler's retail market share has been increasing over the last three months," the note said.

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