Jefferies Starts Volkswagen AG (VLKAY) at Underperform
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Jefferies initiates coverage on Volkswagen AG (OTC: VLKAY) with a Underperform rating, €100 PT.
Analyst Philippe Houchois commented, "We initiate coverage of VW Pref shares with an Underperform rating and a DCF/SOP-based price target of €100. We are concerned about capital intensity at VW, past and future. Our upside/downside scenarios range from €200 to €80."
Shares of Volkswagen AG closed at $28.94 yesterday.
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