UPDATE 1-Citi cuts BMW to neutral, shares fall

Newswire

* Expects slowing global auto sales to hurt BMW * Cuts price target to 60 euros from 75 euros * No longer sees emerging markets as revenue driver * Shares fall 3 pct June 26 (Reuters) - Citi Investment Research downgraded BMW AG to "neutral" from "buy," and said a slowdown in China and the Asia-Pacific region signals that emerging markets can no longer drive the automaker's stock. BMW said in May that China was its biggest single market for the first quarter. China's burgeoning affluent ...

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