Volkswagen: Stifel maintains buy rating

(CercleFinance.com) - Stifel maintains its "buy" rating on Volkswagen shares, with an unchanged target price of 295 euros.


While Q4 sales are expected to be well below what was forecast, Stifel reports that Volkswagen is pretty confident. The company believes that EBIT should be in line with consensus, even though the consensus was based on sales figures 5.1% higher than the actual deliveries reported by Volkswagen on 12 January.

Stifel likes that Volkswagen considers the consensus forecast as "broadly reasonable" despite disappointing sales.

Volkswagen also expects a slight increase in production and sales in 2023. Thus, the outlook for 2023 does not seem too bleak at this stage, the broker says.


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