Volkswagen (OTCMKTS:VWAGY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm presently has a $43.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 19.44% from the stock’s current price.
According to Zacks, “VOLKSWAGEN-ADR is the largest automobile manufacturer in Europe. Their activities focus on the automotive market and they offer products and services along the entire automotive value chain. With nine independent brands, they are able to offer a unique range of models from the extremely efficient 3-litre car to the great sporting tradition of Bentley. While each of the brands has a distinct personality, it also benefits from its membership of the Volkswagen Group with its global manufacturing base “
Several other research firms also recently weighed in on VWAGY. Barclays reiterated an “overweight” rating on shares of Volkswagen in a research report on Tuesday, April 20th. Citigroup began coverage on shares of Volkswagen in a research report on Thursday, May 20th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. restated an “overweight” rating on shares of Volkswagen in a research report on Friday, May 7th. HSBC restated a “hold” rating on shares of Volkswagen in a research report on Wednesday, April 28th. Finally, Societe Generale restated a “buy” rating on shares of Volkswagen in a research report on Wednesday, March 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $43.00.
Volkswagen (OTCMKTS:VWAGY) last issued its quarterly earnings data on Thursday, May 6th. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.17. Volkswagen had a net margin of 4.91% and a return on equity of 9.20%. The company had revenue of $75.19 billion for the quarter, compared to the consensus estimate of $66.64 billion. On average, equities research analysts expect that Volkswagen will post 3.28 earnings per share for the current fiscal year.
Volkswagen AG engages in the production and sale of passenger cars and light commercial vehicles. The firm also develops vehicles and components for the brands of the group. It operates through following segments: Passenger Cars, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars segment covers the development of vehicles and engines; production and sale of passenger cars and light commercial vehicles; and the corresponding genuine parts business.
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