Volkswagen Analysts Opinions

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  • Bernstein Research lowered Volkswagen’s price target to 124 euros from 140 and left the rating at market perform.

  • Analyst Daniel Roeska said the company’s dividends in the near future are certain but it’s uncertain whether it will achieve its strategic goals.

https://www.finanzen.net/analyse/volkswagen_vw_vz_market_perform-bernstein_research_906217

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  • Morgan Stanley lowered Volkswagen’s price target to 130 euros from 154 but maintained equal weight rating on the stock.
  • The analysts said Volkswagen faces a number of challenges including shrinking market share in China, BEV issues in Europe, software issues, competition, ESG matters, capex issue, and rising costs.
  • They believe that an inflection point will materialize though it’s uncertain when it will occur.
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  • UBS lowered Volkswagen’s price target to 100 euros from 135 and downgraded it to “sell” from “neutral” due to rising competition from China EVs.
  • He expects Volkswagen’s share price to worsen in the next two years.
  • Hummel said that Volkswagen’s partnership with Xpeng comes with “high execution risk.”
  • He forecasts that its batteries, software and Scout EV unit will make €15 billion in losses and will burn €30 billion in cash between 2023 and 2027.

https://www.finanzen.net/analyse/volkswagen_vw_vz_sell-ubs_ag_908029

https://www.marketwatch.com/story/ubs-says-sell-volkswagen-and-renault-shares-china-will-crush-them-c03427f5

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  • Analyst Romain Gourvil of Berenberg upgraded Volkswagen to a buy from hold but lowered price target to 130 euros from 145.
  • He said that Volkswagen’s opportunities and risks are now more attractive.
  • Gourvil said Volkswagen is now trading at a cyclical low and short-term risks are now priced in.
  • He noted that supply chain issues have eased while demand concerns have risen in the automotive sector.

https://www.finanzen.net/analyse/volkswagen_vw_vz_buy-joh_berenberg_gossler__co_kg_berenberg_bank__908989

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  • Bernstein Research maintained neutral rating on Volkswagen and a price target of 124 euros.
  • Analyst Daniel Roeska does not see an immediate impact of European emissions regulations on Europe’s car manufacturers.

https://www.finanzen.net/analyse/volkswagen_vw_vz_market_perform-bernstein_research_909045

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  • Goldman Sachs lowered Volkswagen’s price target to 145 euros from 146 and maintained neutral rating.
  • Analyst George Galliers said the general opinion is that European automotive industry is facing subdued sales and price developments, but he’s approaching it more constructively.
  • He said car makers like Mercedes-Benz, Porsche and Stellantis could continue seeing strong business development and could be rewarded.

https://www.finanzen.net/analyse/volkswagen_vw_vz_neutral-goldman_sachs_group_inc._910194

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  • Jefferies raised Volkswagen preference shares price target to 150 euros from 115 and raised its rating from underperform to buy.
  • Analyst Philippe Houchois said Volkswagen is a “slow-moving tanker."
  • He expects core brand to witness enormous cost savings in 2024.
  • He also cited cheap valuation.

https://www.finanzen.net/analyse/volkswagen_vw_vz_buy-jefferies__company_inc__910441

  • Analyst Houchois was one of the few analysts who correctly predicted a slump in Volkswagen’s shares two years ago.

    “Most of what could go wrong at VW has gone wrong, and capitulation has set in,” Houchois and his colleague Owen Paterson wrote.

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  • Berenberg analyst Romain Gourvil maintained Volkswagen’s buy rating and a price target of 130 euros following a meeting with its CEO in an in-house conference.
  • According to Gourvil, the CEO said the company will no longer persue more sales at the expense of costs.
  • The CEO also maintained that the Chinese market remains challenging.
  • The group’s deliveries in the third quarter are expected to be at the same level as Q2 and above the previous year.

https://www.finanzen.net/analyse/volkswagen_vw_vz_buy-joh_berenberg_gossler__co_kg_berenberg_bank__910645

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  • Stifel upgraded Volkswagen’s preference shares rating from “hold” to “buy” but maintained price target of 149 euros.
  • Analyst Daniel Schwarz said he expects better news regarding cost cuts from Volkswagen in October or November.
  • However, he added that for the time being, Volkswagen remains a risky recommendation due to short-term orders and long-term challenges, but the mood on the stock is already at record low.

https://www.finanzen.net/nachricht/aktien/analyse-flash-stifel-hebt-volkswagen-vorzuege-auf-buy-ziel-bleibt-149-euro-12850993

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  • RBC maintained its buy rating on Volkswagen with a price target of 160 euros in light of EU Commission announcement that it will launch anti-subsidy investigation on Chinese automakers operating in Europe.
  • Analyst Tom Narayan said import duties will benefit mostly Volkswagen and Stellantis.
  • However, he pointed out that China’s countermeasures could have a negative impact on German car makers.
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  • Bernstein Research maintained its “neutral” rating on Volkswagen with a price target of 124 euros.
  • Analyst Daniel Roeska expects European automakers to have had a strong third quarter.
  • However, he expects demand risks in 2024.
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  • UBS maintained their sell rating on Volkswagen and a price target of 100 euros.
  • Analyst Patrick Hummel expects European automakers to report solid figures for third quarter, but expects margins to fall compared to the previous quarter.
  • Hummel also said suppliers of electromobility have felt the effects of slowing demand.

https://www.finanzen.net/analyse/volkswagen_vw_vz_sell-ubs_ag_913394

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  • Market Perform, € 124: Analyst Daniel Roeska of Bernstein Research is still worried about Volkswagen’s cash flows.
  • However, he said its capped goals now look achievable, at least for now.

https://www.finanzen.net/analyse/volkswagen_vw_vz_market_perform-bernstein_research_921580

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Buy, €150->€135: Analyst Henning Cosman is sceptical about the sector noting that Europe’s car manufacturers are currently in the backseat compared to their suppliers though Volkswagen remains his favourite amongst them.

https://www.finanzen.net/analyse/volkswagen_vw_vz_overweight-barclays_capital_922655

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Overweight-> neutral, €160->€ 128: JP Morgan analyst Jose Asumendi is worried about rising competition in the automobile market, particularly from new Chinese and North American car
makers.

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  • Buy, €150: Jefferies said that the announced cost reduction plan has no surprises and that it’s now time to implement it.

  • Neutral, €137: Analyst George Galliers of Goldman Sachs said the cost-savings plan was probably expected by the market but sees the development as positive. He said it’s now a matter of implementation.

  • Buy, €149: Stiffel believes that Volkswagen is ‘‘a promising investment case for 2024’’ due to cost reductions and its upcoming models. Stiffel adds that “VW’s ability to reduce costs even under strong pressure is underestimated by the market.”

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  • Neutral, €128: Analyst Jose Asumendi of JP Morgan expects 2024 to be a strong profit year for the industry.
  • He pointed out that car manufacturers should be able to maintain their pricing power despite lower production volumes.

https://www.finanzen.net/analyse/volkswagen_vw_vz_neutral-jp_morgan_chase__co__927138

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Outperform, €140: Analyst Tom Narayan of RBC is cautious about the upcoming results. He said price/mix normalization is a significant headwind for manufacturers and expects conservative forecasts from the automakers for 2024.

https://www.finanzen.at/analyse/volkswagen-vw-vz-outperform-930105

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Outperform, €140->€146: Referring to the recent call with analysts and investors, analyst Tom Narayan of RBC said Volkswagen’s comments on price, product mix and sales this year were constructive, adding that he increased his estimate for operating profit.
https://www.finanzen.at/analyse/volkswagen-vw-vz-outperform-930323

This comes a day after he said he was cautious on Volkswagen’s upcoming results.

https://forum.investmentwiki.org/t/volkswagen-news/100/63

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  • Buy, €150: Analyst Philippe Houchois of Jefferies said the statements made at the conference call held with analysts reinforce his view that 2023 ended well for Volkswagen. He added that Volkswagen could resist the industry trends of declining results in the current year.

  • Buy, €190->€180: Analyst Tim Rokossa of Deutsche Bank expects Volkswagen to report strong cash flow for Q4 due to solid delivery figures for December. He added that available information indicates Q4 was the strongest quarter.

  • Market perform, €124: Analyst Daniel Roeska of Bernstein said there was slightly encouraging data in European business in the first quarter and indications that the U.S. business may have bottomed out while China is still a challenge. In general, he believes the automotive market will continue to weaken before it recovers.

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