BMW

Citigroup upgrades the outlook for the automotive sector and sees signs of an improvement in chances and risks despite a difficult third quarter. Analyst Harald Hendrikse assigned BMW the status "Positive Catalyst Watch" (90 days) and expects short-term positive price drivers; BMW shares rose 4.5 percent on Friday to a high since mid-June. Forvia also received a Positive Catalyst Watch (30 days). Citigroup cites possible catalysts such as stricter EU rules against Chinese suppliers, robust vehicle registration figures in the US/Europe, cost reductions and upcoming investor events. » More on de.investing.com

Citigroup places BMW on "Positive Catalyst Watch" with a 90-day horizon, strengthening expectations of near-term positive share-price drivers. The stock rose about 4.5% to its highest level since mid‑June. Analyst Harald Hendrikse sees signs of an improved risk‑reward profile despite a difficult third quarter, citing factors such as stricter EU rules for Chinese competitors, solid registration figures in the US and Europe, and cost-cutting announcements at upcoming investor events. » More on finanzen.net

Citi opens a 90-day upside watch for BMW ahead of the capital markets day on Sept. 30 and views the depressed sentiment in the European auto sector as a tactical buying opportunity. The stock is down about 38% year-to-date and trades roughly €10 below net cash, so Citi expects short-covering on positive headlines in the short term. Potential upside drivers include cuts to models and technologies, lower capex and R&D spending, and higher cash returns; the rating remains neutral. » More on de.investing.com