(News Bulletin 247) – Morgan Stanley on Wednesday raised its recommendation on BMW shares, raised from ‘underweight’ to ‘weight in line’ with a price target raised from 85 to 90 euros.
In a note devoted to the automotive sector in Europe, the research department explains that the consensus has now taken into account the scenario of a decline in profit margins for the German manufacturer, whose stock market valuation it considers to be ‘far from’. be tense’.
However, the analyst believes that the Munich group remains exposed to a normalization of the prices of its vehicles and its product mix, which leads it to see an ‘unattractive’ risk/return profile, as well as a limited potential for current levels.
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