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Volkswagen: preferred shares become BarCap 'top pick.'

( - Analysts at Barclays Capital have made the preferred shares of Europe's largest automaker Volkswagen their "sector top pick," replacing Fiat Chrysler, saying that the 17% rally since third-quarter results is not over yet.

BarCap, which maintains its "overweight rating" on the stock, with a target price of 195 euros, says that the VW rally is "only the start of improvement for the company" as product and geographic mix should support the story in 2018 and 2019.

BarCap analysts cite soon-to-arrive product launches, such as the Bentley Bentayga, Porsche's Panamera Sport Turismo and Cayenne Turbo, along with the Audi Q5, A6, A7, and A8 to name but a few.

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