BMW: HSBC raises TP slightly

(CercleFinance.com) - On Monday, HSBC raised its target price for BMW shares from E110 to E112, while maintaining its 'hold' recommendation on the stock.


In its comments, the broker explains that it is hesitant to be either admiring or critical of the strategy implemented by the German automaker, which is betting heavily on the electric vehicle market after lagging behind in this area for years.

The professional says he is concerned about the cost of this acceleration at a time when the electric vehicle market is slowing down, which he believes could limit future redistributions to shareholders.

Its new target shows limited upside potential of 5%.


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