Volkswagen: company is 'on right track' according to Oddo

(CercleFinance.com) - Commenting on the first announcements made yesterday about the alliance between Volkswagen and Ford, Oddo BHF this morning says that the German group will find "a lever to optimise the capital invested" therein.


This announcement is moving in the right direction and the alliance confirms the change of mood at the Volkswagen Group under the direction of Matthias Mueller and his successor Herbert Diess. The group, which has for a long time appeared withdrawn, is now open to cooperate, enabling resources and investments to be pooled in the face of heavy capex required to meet the industry's MT challenges, the use of strategic partnerships is one of the levers that management intends to use in order to optimise the returns on capital invested, Oddo BHF says.

The broker therefore confirms its "buy" recommendation on the share, maintaining a target price of 188 euros; it hopes to obtain more details in the coming months on this alliance between both car makers.



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