Volkswagen AG Pfd.

Volkswagen the parent company of the Volkswagen Group. It develops vehicles and components for the Group's brands, and produces and sells vehicles such as passenger cars and light commercial vehicles for the Volkswagen Passenger Cars and Volkswagen Commercial Vehicles brands. In the electricity sector, Co. performs electricity generation, sales and distribution together with a Group subsidiary. Western Europe, China, Brazil, the U.S., Russia, Mexico and Argentina are the key markets of the Group. The automotive division comprises the passenger cars, commercial vehicles, and power engineering segments, while the financial services division corresponds to the financial services segment.
  • TickerVOW3
  • ISINDE0007664039
  • SectorAutomobiles & Parts
  • CountryGermany

VOLKSWAGEN AG reduced its risk exposure resulting in an upgrade to Slightly Positive

VOLKSWAGEN AG (DE), a company active in the Automobiles industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 4 out of 4 possible stars; its market behaviour has improved and can be considered as moderately risky. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date September 4, 2020, the closing price was EUR 143.70 and its potential was estimated at EUR 171.46.

Anthony Dick ...
  • Michael Foundoukidis

Volkswagen (pref) : Still the best placed in this environment

>Earnings in line with the consensus but shy of expectations   - VW reported interim results broadly in line with the consensus, admittedly, but expectations had recently risen following peers’ interim publications even though the quality of earnings may have also disappointed (VW/Audi below expectations, high level of “Other” items) apart from on very solid adjusted FCF of just -€ 0.8bn. Even so, the group’s message contained little in the way of surprises and the ou...

Anthony Dick ...
  • Michael Foundoukidis

Volkswagen (pref) : Toujours le mieux placé dans un environnement difficile et incertain

>Des résultats en ligne avec le consensus mais inférieurs aux attentes   - VW a publié des résultats certes globalement en ligne avec le consensus mais les attentes avaient récemment augmenté après les publications des pairs tandis que la qualité même des résultats a pu décevoir (VW/Audi en deçà, poste « Autres » élevé) hormis sur le FCF ajusté solide à seulement -0.8 Md€. Pour autant, peu de surprise dans les messages et les perspectives du groupe qui ne devraient pa...

Valérie GASTALDY

Analyse court terme - VOLKSWAGEN AG PFD : Stochastiques en zone de surachat.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. Les Stochastiques sont en zone de surachat. Les cours pourraient se replier jusqu'à 132,70 €.

Valérie GASTALDY

Short term view - VOLKSWAGEN AG PFD : Overbought stochastics

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. Stochastics are at the overbought level. prices could fall again to €132.70.

Valérie GASTALDY

Analyse court terme - VOLKSWAGEN AG PFD : Les cours se sont repris.

La tendance est incertaine. Les cours se sont repris, et ils commencent à montrer une certaine vigueur. Une nouvelle tendance haussière tente de démarrer.

Valérie GASTALDY

Short term view - VOLKSWAGEN AG PFD : Prices recovered.

The trend is uncertain. Prices have recovered and they are starting to display convincing strength. A new bullish trend is attempting to emerge.

Valérie GASTALDY

Analyse moyen terme - VOLKSWAGEN AG PFD : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 124,75 €, puis 109,02 €. Le franchissement de 188,11 € remettrait en cause la suite de la baisse.

Anthony Dick ...
  • Michael Foundoukidis

Volkswagen (pref) : Still the best placed in this environment

>Earnings in line with the consensus but shy of expectations   - VW reported interim results broadly in line with the consensus, admittedly, but expectations had recently risen following peers’ interim publications even though the quality of earnings may have also disappointed (VW/Audi below expectations, high level of “Other” items) apart from on very solid adjusted FCF of just -€ 0.8bn. Even so, the group’s message contained little in the way of surprises and the ou...

Anthony Dick ...
  • Michael Foundoukidis

Volkswagen (pref) : Toujours le mieux placé dans un environnement difficile et incertain

>Des résultats en ligne avec le consensus mais inférieurs aux attentes   - VW a publié des résultats certes globalement en ligne avec le consensus mais les attentes avaient récemment augmenté après les publications des pairs tandis que la qualité même des résultats a pu décevoir (VW/Audi en deçà, poste « Autres » élevé) hormis sur le FCF ajusté solide à seulement -0.8 Md€. Pour autant, peu de surprise dans les messages et les perspectives du groupe qui ne devraient pa...

Anthony Dick ...
  • Michael Foundoukidis

Volkswagen (pref) : June and Q2-20 better than expected?

>June sales already better - Following a tweet yesterday from Jurgen Stackmann, head of the VW brand sales, indicating that June deliveries had been better than expected for the carmaker, we contacted the company which confirmed to us that commercial momentum was actually more favourable than originally expected. Whilst we had retained the cautious option in our estimates in the face of the numerous messages delivered by the group notably the CFO (“Q2 will be ugly”) ...

Anthony Dick ...
  • Michael Foundoukidis

Volkswagen (pref) : Un mois de juin et un T2 finalement meilleurs que prévu ?

>Des ventes meilleures que prévu dès le mois de juin - A la suite d’un tweet, hier, de Jurgen Stackmann, responsable commercial de la marque VW, indiquant un mois de juin meilleur que prévu pour le constructeur, nous avons contacté la société qui nous a confirmé que la dynamique commerciale s’était révélée plus forte qu’attendu initialement. Alors que nous avions retenu l’option prudente dans nos estimations face aux multiples messages du groupe et notamment du CFO (...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anthony Dick
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/07/2020

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Fatma Agnès Hamdani ...
  • Samantha Jeary

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/15/2020

Owing to its strong exposure to corporate traffic and a negative price mix effect, Amadeus is likely to benefit only marginally from the recovery in air traffic, which we also expect to be particularly slow. We have lowered our 2020-2022 EBITDA estimates by 28% and the consensus is likely to follow suit. Momentum is set to remain challenging and the valuation is strained after the rally in May. Reduce rating reiterated. - Cf. company report published today. - ...

Fatma Agnès Hamdani ...
  • Samantha Jeary

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/07/2020

En raison de sa forte exposition au trafic corporate et d'un effet mix-prix négatif Amadeus ne bénéficiera que marginalement de la reprise du trafic aérien que nous attendons également particulièrement lente. Nous abaissons nos prévisions d’EBITDA 2020-22 de 28% et le consensus devra en faire autant. Le momentum va rester difficile et la valorisation est tendue après le rebond de mai. Opinion Alléger réitérée. - Cf. étude publiée ce jour. - ...

Anthony Dick ...
  • Aurelien Sivignon
  • Emmanuel Matot
  • Fatma Ayachi
  • Jean-François Granjon
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 05/27/2020

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VOLKSWAGEN AG reduced its risk exposure resulting in an upgrade to Slightly Positive

VOLKSWAGEN AG (DE), a company active in the Automobiles industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 4 out of 4 possible stars; its market behaviour has improved and can be considered as moderately risky. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date September 4, 2020, the closing price was EUR 143.70 and its potential was estimated at EUR 171.46.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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