Volkswagen: UBS maintains buy rating

(CercleFinance.com) - UBS reinstates its buy rating on the Volkswagen stock, with a target price of 280 euros after the group announced its Q1 2022 results.


"Arno Antlitz had a confident message on chip supply improving in H2, structurally better China performance, and re-accelerating EV sales," UBS points out.

VW posted Q1 operating profit of 8.5 billion euros, well above the 4.8 billion euros in Q1 2021.

The European sector leader, whose sales were pretty flat at 62.7 billion euros, explained that it had benefited from its cost reductions as well as a favourable "mix" in its vehicle sales.



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