BMW: BarCap maintains 'overweight' rating after warning
(CercleFinance.com) - BarCap maintains its "overweight" rating and target price of 106 euros on the BMW stock after the German premium carmaker made its first profit warning in a decade on Tuesday.
In a note entitled "too many headwinds," Barclays says that to date this year it has been impressed by the group's performance in the face of multiple macroeconomic burdens.
"BMW coped admirably with falling diesel residuals," the broker writes in the report.
BarCap thinks the group has been well prepared for tougher emission rules, known as "WLTP" and notes that the sharp hike in Chinese import tariffs on US produced SUVs did not initially prompt an adjustment to management's full-year 2018 outlook in June.
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.
In a note entitled "too many headwinds," Barclays says that to date this year it has been impressed by the group's performance in the face of multiple macroeconomic burdens.
"BMW coped admirably with falling diesel residuals," the broker writes in the report.
BarCap thinks the group has been well prepared for tougher emission rules, known as "WLTP" and notes that the sharp hike in Chinese import tariffs on US produced SUVs did not initially prompt an adjustment to management's full-year 2018 outlook in June.
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.