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BMW: Stifel still on hold

(CercleFinance.com) - Stifel maintains its Hold rating on BMW shares, along with its target price of 108 euros.


The analyst notes that order intake continues to be very strong. In particular, business in the US remains strong, despite higher leasing rates due to rising interest rates. In China, the year is ending reasonably well.

Although business could suffer from lockdowns, "the demand situation remains strong," notes Stifel. "BMW says that the new X1 provided some positive momentum in Germany and UK, too."

The contribution margin from electric vehicles is expected to match that of internal combustion engine cars by 2025, when the dedicated "Neue Klasse" platform will be launched, with the sixth generation electric powertrain. Products from the "Neue Klasse" platform will account for around 50% of BMW's sales in 2030, it adds.



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