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UBS has reduced its target price for Volkswagen preference shares from 84 to 75 euros, maintaining a "Sell" rating. Analyst Patrick Hummel noted that the company's reorganization will be a lengthy process, with operating profit and cash flow expected to remain under pressure through 2025 and possibly beyond. Optimistic views regarding valuation discounts and cost management are unlikely to yield immediate results.
UBS has downgraded Volkswagen's target price from 84 to 75 euros, maintaining a "Sell" rating. Analyst Patrick Hummel noted that the company's reorganization will be a lengthy process, with operating profit and cash flow expected to remain under pressure through 2025 and possibly beyond. Optimistic arguments regarding valuation discounts and cost management are unlikely to yield immediate results.
Volkswagen AG, a leading German automotive manufacturer, operates through two main divisions: Automotive and Financial Services. The Automotive Division encompasses the development and sale of a wide range of vehicles, including passenger cars, trucks, and motorcycles, while the Financial Services Division offers financing, leasing, and mobility services. The company's extensive brand portfolio features names like Audi, Porsche, and Lamborghini.
UBS has reduced its target price for Volkswagen preference shares from 84 to 75 euros, maintaining a "Sell" rating. Analyst Patrick Hummel noted that the company's reorganization will be a lengthy process, with operating profit and cash flow expected to remain under pressure through 2025 and possibly beyond. Optimistic views regarding valuation discounts and cost management are unlikely to yield immediate results.
Volkswagen is set to debut its new Proactive Safety System, designed to protect drivers, passengers, and pedestrians, with features like an Active Hood and a system that autonomously pulls over if the driver becomes incapacitated. The upcoming electric VW Golf, launching in 2029, will be the first model to utilize technology from a new joint venture with Rivian, aimed at creating a software-defined vehicle platform. This partnership marks a significant shift for Volkswagen as it seeks to address its software challenges and modernize its vehicle offerings.
The Nasdaq 100 rose 1.1%, while the Dow Jones fell 0.3%, amid mixed market signals. Bitcoin and Ether declined by 2.2% and 2.5%, respectively, as the VIX dropped below 14, indicating reduced volatility. Corporate upheavals included Intel's CEO ousting and significant labor strikes at Volkswagen AG. Key economic indicators are set to be released this week, including US factory orders and the jobs report.
Tens of thousands of Volkswagen employees are participating in nationwide warning strikes at nine out of ten plants, following the expiration of the peace obligation. The strikes, called by IG Metall, focus on pay issues affecting approximately 120,000 workers under the company pay scale, along with over 10,000 employees in VW Saxony.
Northvolt, a leading Swedish battery manufacturer, has filed for Chapter 11 bankruptcy, burdened by over $5.8 billion in debt and significant production failures. Major creditors, including J. Safra Sarasin, Volkswagen, and Goldman Sachs, face substantial losses, with the latter expected to write down its nearly $900 million stake to zero. CEO Peter Carlsson has resigned to facilitate restructuring efforts amid the company's financial turmoil.
European policymakers are increasingly motivated to enhance investment dynamics, seeking to shift from reliance on bank loans to equity financing akin to the US model. ECB President Christine Lagarde advocates for a restructured regulatory framework and tax incentives to stimulate retail investment, while the nomination of Maria Luis Albuquerque as financial services commissioner raises hopes for a unified securitisation market. Despite challenges, a coalition of willing member states could foster a more attractive investment landscape, potentially reshaping perceptions of Europe as a stagnant market.
The global demand for critical metals, essential for clean energy technologies, is set to soar, with estimates indicating a need for significantly more lithium, cobalt, and nickel by 2050. However, the long lead times for new mining projects, averaging 16 years, pose challenges to meeting this demand sustainably. Meanwhile, e-waste scavengers in developing countries are increasingly vital in recycling valuable materials, highlighting the complex interplay between resource extraction and environmental concerns.
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UBS cuts Volkswagen target price to 75 euros maintains sell rating
08:05 03.12.2024
ubs downgrades volkswagen target price to 75 euros maintains sell rating
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UBS issues sell rating for Volkswagen amid diverse automotive and financial services portfolio
07:19 03.12.2024
UBS cuts Volkswagen target price to 75 euros maintains sell rating
07:19 03.12.2024
Volkswagen Partners with Rivian for Electric Golf and Advanced Safety Features
00:04 03.12.2024
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