Volkswagen: UBS on hold
(CercleFinance.com) - UBS confirms its neutral rating on the stock with a target price of E130.
The analyst does not share VW's optimism, noting a greater threat due to record capex and a lack of vigilance regarding costs.
Remember that Volkswagen has announced that it expects to largely outperform market expectations in 2023. The group said it expected vehicle deliveries of around 9.5 million units this year, compared with 8.3 million last year.
Revenues should grow by between 10% and 15%, with an expected operating margin around 7.5% to 8.5%, compared to the consensus of 7.1%.
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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.
The analyst does not share VW's optimism, noting a greater threat due to record capex and a lack of vigilance regarding costs.
Remember that Volkswagen has announced that it expects to largely outperform market expectations in 2023. The group said it expected vehicle deliveries of around 9.5 million units this year, compared with 8.3 million last year.
Revenues should grow by between 10% and 15%, with an expected operating margin around 7.5% to 8.5%, compared to the consensus of 7.1%.
Copyright (c) 2023 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.