(CercleFinance.com) – Oddo reiterates its Neutral recommendation and its price target of 80E on the BMW share.
The announcement of the new electric platform expected for 2025, the Neue Klasse made an impression: ‘For its new generation of electric vehicles, BMW is aiming to increase the vehicle’s range by 30% and reduce the cost of the battery of 50%, which would allow it to generate a profitability similar to that achieved on its thermal vehicles ‘, notes Oddo.
In the shorter term, the group also discussed the context and its vision of the market for 2023, ‘which it sees as still solid, both in terms of turnover and margins’, notes the analyst.
An ambition appreciated, but uncertainties remain. ‘We remain quite circumspect vis-à-vis the objectives put forward, in particular those relating to production costs and the margins generated, which, in our opinion, will remain very dependent on the market environment’, continues Oddo.
If the group wanted to reassure on its ability to source materials via a proactive approach with its suppliers, ‘prices are still exposed to the market environment which remains strongly inflationary for the moment’.
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