BMW: Oddo BHF remains neutral ahead of results
(CercleFinance.com) - On Tuesday an analyst at Oddo BHF confirmed a "neutral" recommendation on the share of German car maker BMW, before it releases its third quarter results.
For its Automobile business, the broker has the following assumptions: sales (+5.4% to 22,246 million euros) should benefit from a 1% increase in volumes (+1%/wholesales sales), a better mix (+2.0%) and pricing (+1.0%) related to the impact of new models (see growth of recent launches), growth in component sales to China (we retain +200 million euros vs. +300 million euros for Q1 and Q2) and a positive currency effect (we retain +1.4% i.e. 304 million euros, the analyst says.
Oddo BHF thus confirms its price target of 72 euros for the share, meaning upside potential of around 6%.
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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.
For its Automobile business, the broker has the following assumptions: sales (+5.4% to 22,246 million euros) should benefit from a 1% increase in volumes (+1%/wholesales sales), a better mix (+2.0%) and pricing (+1.0%) related to the impact of new models (see growth of recent launches), growth in component sales to China (we retain +200 million euros vs. +300 million euros for Q1 and Q2) and a positive currency effect (we retain +1.4% i.e. 304 million euros, the analyst says.
Oddo BHF thus confirms its price target of 72 euros for the share, meaning upside potential of around 6%.
Copyright (c) 2019 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.