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BMW: Oddo raises estimates

(CercleFinance.com) - Oddo believes that BMW yesterday published Q2 2020 results that are slightly below expectations, but above all were of lower quality, with an Auto division below expectations.


However, the very good performance in China and the better FCF should be highlighted, analysts said.

Regarding its outlook, the group maintained that communicated in Q1, with an Auto OM (0-3%) and suggested that it would do its utmost to achieve a positive Auto FCF over the year.

Following this announcement, Oddo confirms its neutral rating on the share with a target price of 55 euros.

Analysts have however, raised their estimates upwards towards the upper end of the guidance range with an Auto OM of 2.0% for the year, they add.


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