Volkswagen: Bernstein remains confident on stock
(CercleFinance.com) - Bernstein maintains its "outperform" rating on the Volkswagen stock after the German car maker reported deliveries for the first quarter of 2018.
In its research note, the broker points out that VW is still heavily dependent on China.
"China continues to provide over 60% of VW's net earnings, on our calculations," Bernstein writes in the report.
"If China sneezes, VW catches a cold - or worse," it adds. "Fortunately, it continues to perform well there."
Overall, Bernstein says it remains confident in VW's trajectory in 2018 as performance in China seems to be on track.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In its research note, the broker points out that VW is still heavily dependent on China.
"China continues to provide over 60% of VW's net earnings, on our calculations," Bernstein writes in the report.
"If China sneezes, VW catches a cold - or worse," it adds. "Fortunately, it continues to perform well there."
Overall, Bernstein says it remains confident in VW's trajectory in 2018 as performance in China seems to be on track.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.