Volkswagen: Stifel still says 'buy' after results
(CercleFinance.com) - On Monday Stifel renewed its buy rating on Volkswagen shares, along with its target price of 295 euros following its FY results publication last Friday.
"VW surprised with a very bullish outlook, on Friday the stock was up 11%," the analyst said.
For the record, VW said it expects unit sales to rise by 15% to 9.5 million units this year, a higher-than-expected target, for revenues that are up 10% to 15% (consensus: +0.6%) and an EBIT margin of 7.5% to 8.5% (consensus: 7.4%).
"The confident outlook met a very negative sentiment and a significant underperformance of the shares y-t-d," the analyst said.
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"VW surprised with a very bullish outlook, on Friday the stock was up 11%," the analyst said.
For the record, VW said it expects unit sales to rise by 15% to 9.5 million units this year, a higher-than-expected target, for revenues that are up 10% to 15% (consensus: +0.6%) and an EBIT margin of 7.5% to 8.5% (consensus: 7.4%).
"The confident outlook met a very negative sentiment and a significant underperformance of the shares y-t-d," the analyst said.
Copyright (c) 2023 CercleFinance.com. All rights reserved.