Volkswagen: Jefferies confirms buy rating
(CercleFinance.com) - Jefferies maintains its Buy recommendation on Volkswagen shares, with an unchanged target price of E150.
The car maker has announced preliminary Q3 EBIT of E4.9bn, 14% below the consensus.
Meanwhile, group sales rose by 12% y-o-y to E78.8bn.
Its new EBIT forecast for the fiscal year is now E22.5bn, suggesting underlying profit of E25bn, or a margin of 8% (versus a previous margin of 7.5%-8.5%).
Jefferies has therefore adjusted its FY EBIT estimate in line with the new forecasts.
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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 car maker has announced preliminary Q3 EBIT of E4.9bn, 14% below the consensus.
Meanwhile, group sales rose by 12% y-o-y to E78.8bn.
Its new EBIT forecast for the fiscal year is now E22.5bn, suggesting underlying profit of E25bn, or a margin of 8% (versus a previous margin of 7.5%-8.5%).
Jefferies has therefore adjusted its FY EBIT estimate in line with the new forecasts.
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.