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Investing.com - Bernstein SocGen Group has reiterated an Outperform rating and EUR92.00 price target on Bayerische Motoren Werke AG (XETRA:BMW (ETR:BMWG)) (OTC:BMWYY (OTC:BMWKY)).
The research firm highlighted BMW’s strong competence in providing battery electric vehicles (BEVs) that meet customer demand, contrasting with other automakers who have missed their BEV sales targets.
Bernstein noted that all original equipment manufacturers (OEMs) are launching significant numbers of new BEVs to revitalize interest in zero-emission vehicles, but many customers remain reluctant to make the switch.
This customer hesitation is forcing automakers to reassess product and investment planning, with companies like Porsche writing off certain electrification investments and pivoting back to internal combustion engine (ICE) vehicle development.
Along with BMW, Bernstein maintained an Outperform rating on Renault (EPA:RENA) while reiterating Market-Perform ratings on Mercedes, Volkswagen (ETR:VOWG_p), Porsche, and Stellantis (NYSE:STLA).
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