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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.

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