Jefferies analyst Philippe Houchois upgraded BMW (BMWYY) to Buy from Hold with a price target of EUR 85, up from EUR 80, as part of a broader research note on European auto names. Peak capital spending at BMW this year could warrant a premium to a MBG (MBGYY), which is facing re-positioning and re-investment, the analyst tells investors in a research note. The firm believes that in 2025, BMW will reap the benefit of continuity and consistency of a long planned strategy, at a time of unusually high uncertainty for the auto industry.
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