BMW downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded BMW to Underweight from Equal Weight with a price target of EUR 92.50, down from EUR 107.50. The analyst sees “little to no room” for EBITDA expansion for BMW over the medium term. BMW has the biggest China exposure of European auto manufacturers, and will likely to be hit by demographic and economic changes in the country, the analyst tells investors in a research note.