Berentzberg lowers BMW's target price.

Baerenberg has lowered BMW's target price from 86 euros to 69 euros, becoming the latest institution to lower the target price for the company. Prior to this, Deutsche Bank lowered BMW's target price from 100 euros to 90 euros, JPMorgan lowered BMW's target price from 92 euros to 70 euros, and Morgan Stanley lowered BMW's target price from 100 euros to 82 euros. BMW has also lowered the expectations for a series of key financial indicators for the full year, lowering the expected pre-tax profit margin for its automotive business from 4%-6% to 1%-3%. Analysts say that while the possibility of lowering expectations in recent weeks has increased, BMW's profit warning has exceeded all expectations and may lead to speculation about potential downgrades for German peers as well.