BUY: Based on historic P/E valuation, we calculate a target price of EUR 112 for YE16E. This implies a 21% upside potential from the current share price. The chart technical outlook is positive and the next levels of minor resistance around EUR 93 and EUR 96 should not prevent BMW shares to test their 200-day moving average around EUR 98. (See pp.16-17.)
110515 CGI BMW 3Q15A results & FY15E-17E preview