Volkswagen: Oddo raises target price.
(CercleFinance.com) - In a report released this Monday morning, Oddo has raised its target price on the Volkswagen stock from 135 euros to 144 euros, although maintains its "reduce" rating on the stock.
The broker has welcomed better-than-expected cash and results, including restated operating income that is up 15% at 4.3 billion euros.
In addition, the group has raised its 2017 targets, with a margin that is now slightly higher than the initial range of 6% to 7% at the group level. In this more favorable context, Oddo has raised its annual estimates for EBIT and net income, group share, by 8% and 5% respectively.
Copyright (c) 2017 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.
The broker has welcomed better-than-expected cash and results, including restated operating income that is up 15% at 4.3 billion euros.
In addition, the group has raised its 2017 targets, with a margin that is now slightly higher than the initial range of 6% to 7% at the group level. In this more favorable context, Oddo has raised its annual estimates for EBIT and net income, group share, by 8% and 5% respectively.
Copyright (c) 2017 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.