FRANKFURT (dpa-AFX) - BMW shares were under pressure on Wednesday following a downgrade. They lost 1.1 percent to 105.41 euros on Tradegate compared to the Xetra close. This puts a slight damper on the recent recovery from the lowest level in a month reached in the previous week.

Analyst Philippe Houchois from investment firm Jefferies withdrew his buy recommendation for the Munich-based carmaker's shares. The full distribution of free cash is already priced in, which is not the case with competitor Mercedes-Benz. The shares of the Stuttgart-based competitor recently traded up 0.1 percent on Tradegate.

BMW shares are currently trading at 10.3 times free cash flow, Mercedes-Benz at only 8.4 times, Houchois calculated. The expert praised the fact that none of the traditional car manufacturers had so far mastered the industry's transition to electromobility as well as BMW. However, BMW's position on the market is no longer misunderstood./ajx/ag/mis