Volkswagen: Oddo confirms buy rating
(CercleFinance.com) - Oddo maintains its "outperform" rating on Volkswagen shares, with an unchanged target price of 200 euros.
While preliminary results had already been published by the car maker, the focus of yesterday's publication was on its outlook.
Oddo notes that the group confirmed all its targets for 2022 (i.e. growth in deliveries of +5/10%, sales growth of 7%-13%, an adjusted OM of 7%-8.5%) which, although expected, is nevertheless reassuring in the current context.
However, the analyst notes that achieving this guidance will need an acceleration in H2.
Despite uncertainty that obviously remains high regarding the macroeconomy, the share's current valuation (2022 P/E now below 5.0x) seems attractive, analysts say, given the group's fundamentals that remain solid, along with a very healthy financial situation.
The share is up about 1.5% in late morning trading today.
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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.
While preliminary results had already been published by the car maker, the focus of yesterday's publication was on its outlook.
Oddo notes that the group confirmed all its targets for 2022 (i.e. growth in deliveries of +5/10%, sales growth of 7%-13%, an adjusted OM of 7%-8.5%) which, although expected, is nevertheless reassuring in the current context.
However, the analyst notes that achieving this guidance will need an acceleration in H2.
Despite uncertainty that obviously remains high regarding the macroeconomy, the share's current valuation (2022 P/E now below 5.0x) seems attractive, analysts say, given the group's fundamentals that remain solid, along with a very healthy financial situation.
The share is up about 1.5% in late morning trading today.
Copyright (c) 2022 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.