BMW: Barclays raises target price
(CercleFinance.com) - Barclays reiterates its "overweight" rating on BMW, while raising its price target from 110 euros to 114 euros, highlighting an "underappreciated" stock, despite the group "delivering what it promises.
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While the broker thinks that BMW management could learn a little from Elon Musk in order to enhance investor interest, Barclays notes that continued delivery should be credited, "even if catalysts are hard to grasp."
"2018 is shaping up to be an exciting year for product and mix should support earnings growth (its M products as well as X)", the broker said.
Barclays points out that technology costs are rising, but also writes that BMW's advanced knowledge in electrification and modularity is standing out.
Copyright (c) 2018 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.
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While the broker thinks that BMW management could learn a little from Elon Musk in order to enhance investor interest, Barclays notes that continued delivery should be credited, "even if catalysts are hard to grasp."
"2018 is shaping up to be an exciting year for product and mix should support earnings growth (its M products as well as X)", the broker said.
Barclays points out that technology costs are rising, but also writes that BMW's advanced knowledge in electrification and modularity is standing out.
Copyright (c) 2018 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.