BMW

European auto stocks come under pressure, with the Stoxx Europe 600 Automobiles & Parts trading at its lowest level since the end of August. BMW fell 1.6 percent despite a buy rating from Berenberg; the bank cites solid fundamentals, the end of high investment phases and firmer expectations ahead of the capital markets day. Berenberg still sees challenges for the sector from China, geopolitical risks, inflation and overcapacity; Stellantis and other manufacturers suffered significant price losses. Volkswagen kept a positive rating, while Mercedes-Benz, Renault and Porsche are rated neutral. » More on finanzen.net

Berenberg raises BMW to 'Buy' and simultaneously withdraws its buy recommendation for Stellantis, upon which the Stellantis share price initially fell. Analyst Romain Gourvil sees a firmer expectations base after the profit warning in June despite ongoing structural problems in China, and describes BMW as fundamentally strong with flattened investment peaks. Volkswagen also received a positive vote, while Mercedes‑Benz, Renault and Porsche remain on 'Hold'. » More on finanzen.net

Berenberg has put its recommendation for BMW at 'buy' and at the same time removed its recommendation for Stellantis. In premarket trading BMW shares rose by about 1.7 percent, while Stellantis fell roughly 1.2 percent. Analyst Romain Gourvil stresses that structural problems exist in China, but following the profit warning and with the capital markets day in view expectations are firmer and BMW is fundamentally strong. Volkswagen also received a positive vote; the other major manufacturers remain on 'hold'. » More on finanzen.net