BMW: Oddo BHF raises its price target

(CercleFinance.com) - BMW: Oddo BHF raisesTP

Oddo BHF confirms its neutral rating on the stock, but raises its target price for it to E78 (from E70) after the group announced its 2024 results and a guidance for 2025.


In its daily comments, Oddo BHF points out that BMW published Q4 results and a 2025 guidance slightly below expectations for automotive EBIT (down 7% relative to the Q4 consensus and a 2025 guidance around 7% below the consensus).

Oddo BHF points out that the disappointment over the Auto 2025 margin guidance (5% to 7%, against a consensus of 6.4%) is notably due to the impact of the various customs taxes (estimated at 100 bp) introduced in recent months (EU/China, US/Mexico-Canada, US/China, taxes on aluminium and steel imports into the US, etc.).

Following this publication, Oddo BHF announces that it has reduced its Auto EBIT forecast by 11% and its Group EBIT estimates by 16%.


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