(News Bulletin 247) – Berenberg announced on Friday that it had raised its advice on Volkswagen shares from ‘keep’ to ‘buy’, with a price target however revised downwards from 145 to 130 euros.
In a study devoted to the European automotive sector, the analyst evokes an ‘opportunistic’ increase at a time when the title displays, according to him, a more attractive risk/return profile.
The intermediary points out that VW is currently trading on the basis of a ‘bottom of the cycle’ valuation due to low expectations which, in his opinion, sufficiently integrate the risks arising in the short term.
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