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The bankruptcy of Swedish battery manufacturer Northvolt has left Swiss investors facing significant losses, with Goldman Sachs writing off $896 million in shares across four private equity funds. Stefan Bollinger, set to become CEO of Julius Baer, promoted these funds to wealthy clients, despite earlier optimistic forecasts. Northvolt's collapse marks a major setback for the European industry, having raised over $13 billion since its inception in 2016.
Volkswagen AG will continue its cost-cutting negotiations with union representatives next week, as both sides seek to enhance the automaker's competitiveness. The fifth round of discussions is scheduled to begin on December 16, according to Arne Meiswinkel, the lead negotiator for management.
Porsche Automobil Holding SE, which owns 53.3% of Volkswagen AG, has been downgraded by UBS from Neutral to Sell. The holding company oversees a diverse portfolio, including brands like Audi, Bentley, and Lamborghini, and also engages in financial services and mobility solutions development.
Porsche Automobil Holding SE, which owns 53.3% of Volkswagen AG, has been downgraded to sell by UBS. The holding company oversees a diverse portfolio, including brands like Audi, Bentley, and Lamborghini, and also holds stakes in various mobility and printing solution companies.
UBS has downgraded Porsche from Neutral to Sell, reducing its price target from €42 to €32, citing concerns over Volkswagen's performance, of which Porsche holds a 31.9% stake. The firm highlights ongoing execution issues, declining sales in China, and insufficient cost management as factors hindering Porsche's margin recovery.
UBS has downgraded Porsche from Neutral to Sell, reducing its price target from €42 to €32. This decision is influenced by a lowered target for Volkswagen, in which Porsche SE holds a 31.9% stake. UBS cites ongoing execution issues, declining volume in China, and a lack of cost discipline as factors hindering Porsche's margin recovery.
UBS has downgraded Porsche from Neutral to Sell, reducing its price target from €42 to €32. This decision is influenced by a lowered target for Volkswagen, in which Porsche SE holds a 31.9% stake. UBS cites ongoing execution issues, declining volumes in China, and a lack of cost discipline as factors hindering Porsche's margin recovery.
UBS has taken a bearish position on Porsche SE shares, citing challenges faced by both Volkswagen and Porsche AG. The investment firm highlights these headwinds as significant factors influencing their outlook on the automotive group's stock performance.
UBS has downgraded Porsche SE from "Neutral" to "Sell," reducing its target price from 42 to 32 euros. Analyst Patrick Hummel cited lower share price targets for Volkswagen and Porsche AG, along with anticipated refinancing pressures and weaker dividend prospects starting in 2027.
UBS has shifted its stance on Porsche Automobil Holding SE from neutral to short. The holding company owns 53.3% of Volkswagen AG, the leading global car manufacturer, and has interests in various brands including Audi, Bentley, and Lamborghini. Additionally, it holds stakes in mobility and printing solution companies.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
goldman sachs faces backlash after northvolt bankruptcy impacts swiss investors
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