Volkswagen price target lowered to EUR 130 from EUR 154 at Morgan Stanley

Morgan Stanley analyst Shaqeal Kirunda lowered the firm’s price target on Volkswagen to EUR 130 from EUR 154 and keeps an Equal Weight rating on the shares. VW acknowledges its challenges and the firm believes the list of challenges is “well documented and understood by the market.” However, its talks with investors “show what remains less clear is the timeline and likelihood of success of the proposed solutions” and the firm’s revised estimates reflect China market share compression and slow price/mix normalization, the analyst says.