Volkswagen: Oddo BHF still a buyer after interim results

(CercleFinance.com) - Hailing a strong operating performance in the second quarter, an analyst at Oddo BHF today announced that he is maintaining his buy rating on the Volkswagen share, maintaining his target price at 190 euros.


Excluding extraordinary items, the automotive group's operating profit rose by almost 10% to 9.8 billion euros, on sales that are up 3.5% at 119.4 billion euros, and deliveries to customers that increased 7.1% to 5.5 million vehicles.

However, reported operating profit fell by 8.5% to 8.2 billion euros, hit by costs of 1.6 billion euros relating to the diesel scandal.



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