BMW: with Q3 under control, Oddo increases target price
(CercleFinance.com) - Oddo says that BMW's Q3 results do not present any major surprises.
According to the analyst, the group's guidance, which suggested Q4 FCF of 1 billion euros is however "cautious" - instead it expects FCF of 2.5 billion euros.
Oddo has therefore increased its target price for the share from 55 euros to 60 euros, although maintains its "neutral" rating on the stock, preferring VW amongst German car markers.
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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.
According to the analyst, the group's guidance, which suggested Q4 FCF of 1 billion euros is however "cautious" - instead it expects FCF of 2.5 billion euros.
Oddo has therefore increased its target price for the share from 55 euros to 60 euros, although maintains its "neutral" rating on the stock, preferring VW amongst German car markers.
Copyright (c) 2020 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.