BMW: Stifel still on hold
(CercleFinance.com) - Stifel maintaining its Hold rating on the BMW share, along with its target price of E108.
"Sales momentum is strong, especially as China recovers," the analyst notes, before highlighting the profitability of BEVs, "which exceeds internal planning at BMW".
This "strong" balance sheet allows BMW "to pay a high dividend, buy back more shares and invest in future products all at the same time", Stifel adds.
It argues, "In times of rising refinancing costs, we argue BMW's strong balance sheet should be a competitive advantage".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Sales momentum is strong, especially as China recovers," the analyst notes, before highlighting the profitability of BEVs, "which exceeds internal planning at BMW".
This "strong" balance sheet allows BMW "to pay a high dividend, buy back more shares and invest in future products all at the same time", Stifel adds.
It argues, "In times of rising refinancing costs, we argue BMW's strong balance sheet should be a competitive advantage".
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.