Volkswagen AG Rating Reiterated by ING (VLKAY)
Volkswagen AG (NASDAQ:VLKAY)‘s stock had its “sell” rating reaffirmed by research analysts at ING in a report released on Monday. They currently have a $30,000.00 price target on the stock, down from their previous price target of $35,000.00.
The analysts wrote, “This is an important moment in the electric car history. Volkswagen (VLKAY) plans to sell eGolf in America by year-end and I was one of the first people to test drive it on U.S. soil this week. VW added the eGolf to the European sales roster approximately two months ago. It will arrive in U.S. dealerships around December.
When it comes to e-cars, VW is miles ahead of its two main rivals for worldwide automotive domination: Toyota (TM) and General Motors (GM). (The three were tightly clustered right around the 10 million units-per-year mark in 2013.) VW makes two electric cars: the eGolf and the eUp.
Unlike its rivals, VW’s eUP is a mainstream, mass-produced, pure electric car broadly available across many countries. It has been selling the eUp in many European countries for several months. Unfortunately, it will not be sold in the U.S. market, because the U.S. has a lot of red tape surrounding crash tests.
As for the eGolf, the U.S. price has not yet been set, but I expect it will be priced not too far from its main rival, the volume leader Nissan (LEAF). Depending on equipment, that would mean somewhere between $30,000 and $35,000 before tax adjustments.”
A number of other analysts have also recently weighed in on VLKAY. Analysts at Zacks upgraded shares of Volkswagen AG from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Separately, analysts at Sanford C. Bernstein upgraded shares of Volkswagen AG from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Finally, analysts at Bank of America downgraded shares of Volkswagen AG from a “buy” rating to a “neutral” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Volkswagen AG has an average rating of “Hold” and a consensus target price of $30,000.00.
Shares of Volkswagen AG (NASDAQ:VLKAY) traded up 0.46% on Monday, hitting $51.435. 19,102 shares of the company’s stock traded hands. Volkswagen AG has a one year low of $37.12 and a one year high of $54.88. The stock has a 50-day moving average of $51.94 and a 200-day moving average of $51.07. The company has a market cap of $119.6 billion and a P/E ratio of 9.66.
Volkswagen AG is a Germany-based automobile manufacturer. The Company develops vehicles and components, and also produces and sells vehicles, in particular Volkswagen brand passenger cars and commercial vehicles.
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