BMW Group: Bernstein maintains its 'market perform' rating
(CercleFinance.com) - Sanford C.
Bernstein maintains its "market-perform" rating and target price of 85 euros for BMW Group after the German premium carmaker unveiled first-quarter results this morning.
While saying that BMW is the best automobile company that it covers, running like clockwork and consistently delivering profitability, Bernstein also notes that it has lacked significant growth in recent years.
"These first-quarter numbers fit the same pattern," the broker wrote in a report.
In particular, Bernstein points out that earnings growth has been "tiny" over the past quarter and that margins only rose because revenues fell.
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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.
Bernstein maintains its "market-perform" rating and target price of 85 euros for BMW Group after the German premium carmaker unveiled first-quarter results this morning.
While saying that BMW is the best automobile company that it covers, running like clockwork and consistently delivering profitability, Bernstein also notes that it has lacked significant growth in recent years.
"These first-quarter numbers fit the same pattern," the broker wrote in a report.
In particular, Bernstein points out that earnings growth has been "tiny" over the past quarter and that margins only rose because revenues fell.
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.