BMW: supported by a broker upgrade
(CercleFinance.com) - BMW shares are up 2% in Frankfurt on Monday, supported by comments from Jefferies, which upgraded the stock from "hold" to "buy" having increased its corresponding target price from 75 euros to 115 euros, in comments on the main European and American car manufacturers.
"We think markets still under-appreciate BMW's capital-efficient strategy to transition into EVs," said the broker, which raised its operating estimates for the German premium manufacturer by 13%.
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"We think markets still under-appreciate BMW's capital-efficient strategy to transition into EVs," said the broker, which raised its operating estimates for the German premium manufacturer by 13%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.