Volkswagen Stock: Partnership with NXP Agreed - ad-hoc-news.de
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On Friday, JPMorgan lowered its price target for Volkswagen preferred shares from 110 to 85 euros and maintained its "Neutral" rating. Jefferies, on the other hand, confirmed its buy recommendation with a price target of 120 euros on Thursday following the quarterly figures. JPMorgan analyst Jose Asumendi justified the target reduction with adjusted estimates. These took into account substantial write-downs and special items following the quarterly figures as well as statements made during the conference call. Volkswagen reported an operating profit of 0.1 billion euros in its nine-month results for 2026. According to the group, before special items, it stood at 8.8 billion euros. Volkswagen cited the Porsche write-down, weak business in China, and restructuring costs, among other things, as driving burdens. The group confirmed its outlook for 2026: Volkswagen expects revenue of around 315 billion euros and an operating return on sales of up to 1 percent. Regarding labor costs, Volkswagen is striving for further relief. On October 23, the group and the IG Metall union agreed on the start of collective bargaining negotiations. Volkswagen explicitly named the reduction of labor costs as the goal of the talks. At the same time, Volkswagen agreed on a strategic partnership with NXP Semiconductors on Monday. Its S32K5 microcontrollers are set to become a building block of the...
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