HAMBURG (dpa-AFX Broker) - Private bank Berenberg downgraded BMW to "hold" from "buy" and left its price target at 95 euros. A slowdown in car demand is increasingly likely in 2023, analyst Adrian Yanoshik wrote in an industry report published Monday. However, there is a potential wild card in this context with the market in China. Because of this and rising costs, he cut his earnings expectations for the sector this year. In the premium and luxury segments, manufacturers should indeed have better conditions for pricing. However, BMW shares have now reached his price target, he said, explaining the downgrade of Munich./tih/mis

Publication of the original study: 27.01.2023 / 16:34 / GMT First disclosure of the original study: Date in study not specified / Time in study not specified / Time zone in study not specified

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