Volkswagen: Jefferies lowers target price by 100 euros
Due to the weak outlook in the course of the Q3 figures, the VW share has been under pressure in the last few days. The renewed discussion about VW board member Herbert Diess also held back the buyers recently.
Volkswagen could not keep up with the rapid development of the electric car manufacturer Tesla, wrote analyst Philippe Houchois in a study published on Monday.
The Wolfsburg are set up too complex and have to struggle with contaminated sites and government influence.
Although Tesla is not an existential threat, owning VW shares is not attractive against this background. As a result, the analyst Houchois has drastically cut his price target for the VW share from 270 to 170 euros.
Read also
Mistakes Doom Packers Without Aaron Rodgers
In contrast to BMW and Daimler, Volkswagen did not collect any positive points from investors and analysts with the figures for the third quarter. Above all, the cautious outlook for the year as a whole caused long faces on the trading floor.
The share is currently looking for direction. A strong support runs at 177 euros. A buy signal is only given as soon as the VW share overcomes the 50-day line at 194.05 euros.
