Volkswagen: UBS confirms its recommendation on the stock

(CercleFinance.com) - The group has announced a reduction in its targets for the 2024 financial year 'in view of a difficult market environment and developments that have not met initial expectations'.


Following this announcement, UBS confirms its Sell recommendation with a price target of E84.

The deterioration of the environment leads to a downward revision of 15% compared with the 2024 consensus; before the restructuring of Germany, the downside risk is around 30% compared with the 2025 consensus', says UBS.

Now expecting to deliver only around nine million vehicles to its customers, the German automaker now expects annual sales of around 320 billion euros. In terms of profitability, it is now only targeting an operating profit of around 18 billion euros (corresponding to a margin on sales of around 5.6%).

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