(New: more details, analysts' comments)

FRANKFURT (dpa-AFX Broker) - A strong third quarter gave the shares of commercial vehicle manufacturer Traton a strong boost on Tuesday. In early trading, the share price climbed to its highest level since mid-June at a good 32 euros, closing the price gap that had emerged at the time.

Most recently, Traton was the best performer in the slightly weaker MDax, gaining 3.8 percent to 31.55 euros. In the Dax, Daimler Truck benefited in the wake of Traton with a plus of 1.5 percent.

In view of the preliminary quarterly figures, Traton performed better than experts had expected. The results show how well the Group is coping with the difficult business environment, wrote analyst Fabio Holscher from Warburg Research. He maintained his "buy" recommendation with a target price of 53 euros.

Analyst Michael Aspinall from the investment firm Jefferies emphasized the Scania brand's continued price strength. This implies that prices in Europe are catching up. In the truck industry, pricing has recently triggered concerns.

However, a trader at Traton criticized on Tuesday that the outlook for 2024 had only been maintained and the order backlog had not been published. This limited the positive price reaction somewhat./ajx/tih/mis

-----------------------

dpa-AFX Broker - the Trader News from dpa-AFX

-----------------------