BMW: Jefferies raises target price
(CercleFinance.com) - US broker Jefferies maintains its "buy" rating on BMW today, and has raised its target price on the stock from 100 euros to 105 euros, as the German premium carmaker is "regaining the initiative"
After an investor meeting last week, Jefferies thinks that BMW is best prepared amongst traditional manufacturers to manage the transition to new automotive business models, while preserving profitability, cash conversion and capital-at-risk.
"We continue to view BMW as somewhat of a valuation anomaly considering balance sheet strength," it said.
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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.
After an investor meeting last week, Jefferies thinks that BMW is best prepared amongst traditional manufacturers to manage the transition to new automotive business models, while preserving profitability, cash conversion and capital-at-risk.
"We continue to view BMW as somewhat of a valuation anomaly considering balance sheet strength," it said.
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.