Volkswagen: Oddo BHF still a buyer - raises target
(CercleFinance.com) - This morning, an analyst at Oddo BHF confirmed a "buy" rating on the Volkswagen share, while increasing the corresponding target price, in anticipation a month of June and a Q2 that are finally better than expected.
The broker has therefore raised its target price from 165 euros to 170 euros, representing upside potential of around 24%.
With a better-than-expected month of June, the group confirmed that the sales momentum had proved stronger than initially expected. As a result the broker has raised its estimates - both for Q2 (now above expectations) and for FY 2020 (in line). However, it is still too early to generalise this momentum to other car makers, although Peugeot and even Renault could also benefit, albeit to a lesser extent, from a better month of June in Europe.
Copyright (c) 2020 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.