BMW: Jefferies upgrades stock

(CercleFinance.com) - Jefferies upgrades its recommendation on BMW Group shares from 'hold' to 'buy', with a target price raised 6% to E85, in a sector report in which it downgrades its position on peer Mercedes-Benz Group.


The broker thus changes its preference among premium carmakers, based on an assessment of BMW's lower risk profile, from growth to customs duties, CO2 compliance and strategic stability.

BMW's peak in capital expenditure this year could justify a premium over a Mercedes-Benz facing repositioning and reinvestment, Jefferies adds.


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