UBS downgraded both VW and Renault to Sell from Neutral Cut target price on VW to €100 and Renault to €31
This is the result of EV price war triggered by Tesla.
Quote:
$VOLKSWAGEN AG (VLKAF.US)$ Chinese manufacturers are raising the intensity of the race to dominate the electric vehicle market. China’s BYD and Tesla are likely to come out as the winners, while European manufacturers Volkswagen and Renault are set to lose out, according to analysts at UBS .
However, good news for Tesla is bad news for European manufacturers, according to UBS. Its analysts downgraded both Volkswagen and Renault to Sell from Neutral. They cut their target price on Volkswagen to €100 from €135 while Renault’s target was lowered to €31 from €42.
Source:
$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Lucid Group (LCID.US)$ $Stellantis NV (STLA.US)$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
3063Followers
95Following
12KVisitors
Follow
MonkeyGee : oh not downgraded by a company that can't tell assets from liability. Should I sell Xpeng now since they have a deal with VW?
ZnWC OP MonkeyGee : Thanks for contributing "comment" (self delusion).
ZnWC OP : You can read more about Tesla here:
Tesla Likely to meet Tesla’s long-term target of 50% annualised growth in 2023
https://www.moomoo.com/community/feed/110993335779334?global_content=%7B%22invite%22%3A%22101709443%22%2C%22promote_content%22%3A%22mm%3Afeed%3A110993335779334%22%7D&data_ticket=212ca245a589f1e400fb2e247953bc77&futusource=nnq_followtab_list
MonkeyGee ZnWC OP : Thanks for contributing "comment" (self delusion).
ZnWC OP MonkeyGee : Thanks for contributing "comment" (nervous and agitated).
ZnWC OP : You can read more about Tesla here:
Cloudflare Is Reportedly Working With Elon Musk's SpaceX to boost network speed
https://www.moomoo.com/community/feed/110990708310022?global_content=%7B%22invite%22%3A%22101709443%22%2C%22promote_content%22%3A%22mm%3Afeed%3A110990708310022%22%7D&data_ticket=212ca245a589f1e400fb2e247953bc77&futusource=nnq_personal_host