BMW: now BarCap's top pick in European auto sector
(CercleFinance.com) - Barclays Capital (BarCap) has said that it has made BMW its top pick amongst European car makers, replacing Volkswagen, maintaining its "overweight" rating on the stock, and nudging up its target price from 114 euros to 115 euros.
The broker appreciates the upmarket car maker, highlighting modular capacities that are underappreciated, as well as a favourable product cycle and positive mix in 2018 and 2019.
Although it maintains an "overweight" rating for Volkswagen, with a target price of 212 euros, BarCap has downgraded Daimler from "weight in line" to "underweight," cutting its corresponding target price from 82 euros to 73 euros after applying a discount of 15% on historical multiples.
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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.
The broker appreciates the upmarket car maker, highlighting modular capacities that are underappreciated, as well as a favourable product cycle and positive mix in 2018 and 2019.
Although it maintains an "overweight" rating for Volkswagen, with a target price of 212 euros, BarCap has downgraded Daimler from "weight in line" to "underweight," cutting its corresponding target price from 82 euros to 73 euros after applying a discount of 15% on historical multiples.
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.