(News Bulletin 247) – Oddo BHF maintains its ‘outperformance’ rating on Volkswagen stock with an unchanged price target of 165 euros.
The analyst reports that almost a year after his appointment as CEO of the group, Oliver Blume (who still combines his duties as CEO of Porsche AG), will present the manufacturer’s strategy on June 21 as part of a Long-awaited CMD.
‘Beyond the figures, the management will above all have to convince of its ability to properly execute the plan and demonstrate increased agility despite the persistent constraints linked to its complex governance’, underlines Oddo BHF, who points to the need to significantly lower the structure of costs despite the constraints.
Oddo specifies that if the reduction of fixed costs is a key issue, it will be far from being the only one. The broker refers in particular to the investment budget, strategies for China and North America, electrification and software strategies, not to mention ESG.
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