BMW Stock: Shares Rally 18% Above November Low

BMW's stock demonstrated positive momentum on Thursday, climbing 0.7% to reach €79.86 on XETRA, with an intraday peak of €80.12. This upward trajectory marks a significant recovery from mid-November's 52-week low of €65.26, representing an 18% increase. However, the current price remains substantially below April's high of €115.35. The third quarter proved challenging for the Munich-based automaker, with earnings per share declining from €4.21 to €0.63 and revenue dropping 15.74% to €32.41 billion.

Analyst Outlook Remains Positive

Despite recent financial headwinds, market analysts maintain an optimistic stance on BMW's stock performance, setting an average price target of €87.83. This forecast suggests considerable upside potential from current levels. Looking ahead to 2024, experts project earnings per share of €12.54, though shareholders should anticipate a reduced dividend of €4.54, down from the previous year's €6.00 distribution.