Volkswagen: Bernstein upgrades to 'outperform'.

(CercleFinance.com) - Sanford C.
Bernstein has upgraded its rating on the Volkswagen stock from "market perform" to "outperform," saying that the shares are "very attractively priced" at the moment.

Although it believes that the German car maker has "many long-term challenges," such as high-risk mass-market electric vehicles strategy, the broker points out that earnings are rising, "probably faster than expected."

Bernstein has therefore raised its 2018 estimates by 7% - which are now 5% above the consensus - and has increased its target price for the stock from 150 euros to 180 euros.


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