BMW: Berenberg starts monitoring with buy rating
(CercleFinance.com) - On Tuesday Berenberg began tracking BMW shares with a buy rating and a target price of 110 euros, representing 40% upside potential.
In its comments on the automobile sector, the broker argues that the premium car maker is perhaps the "least understood" stock in the sector despite its "undervalued" flexibility.
"Worries about a capex wave ignore the company's increasing premium focus and EV share momentum", the broker said.
The resilience of its results and its cash flow can easily enable it to remunerate shareholders while intensifying investments in electric vehicles, it added.
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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.
In its comments on the automobile sector, the broker argues that the premium car maker is perhaps the "least understood" stock in the sector despite its "undervalued" flexibility.
"Worries about a capex wave ignore the company's increasing premium focus and EV share momentum", the broker said.
The resilience of its results and its cash flow can easily enable it to remunerate shareholders while intensifying investments in electric vehicles, it added.
Copyright (c) 2022 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.