BMW Stock Surges on Bullish Analyst Recommendations
BMW stock has seen a surge in analyst recommendations, with 14 out of 26 advising to buy. The average valuation stands at 87.54 euros, around the current price level. The stock has been on an upward trajectory, currently challenging the 50-day moving average.
BMW's stock performance has been robust since April, marked by higher highs and higher lows. Despite a dip in September, it maintained its position above the 200-day moving average. Key analysts like DZ Bank, Berenberg Bank, Jefferies, and JP Morgan have bullish outlooks, with price targets ranging from 89 to 93 euros. The overall average price target is about 90.50 euros, indicating potential upside from the current price of around 85.44 euros.
To continue this uptrend, BMW stock needs to surpass the August peak of 91.72 euros. A close above the SMA50 would open the path to the August high, with the 100 euro mark coming into focus thereafter. UBS, the most bullish among analysts, sees the stock as fairly valued at 103 euros.
BMW stock's positive analyst recommendations and recent price action suggest a bullish outlook. To sustain this momentum, the stock must clear the August high. Despite varied price targets, analysts generally agree that the stock is fairly valued at current levels, with potential upside.
