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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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
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.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.