RBC Capital analyst Tom Narayan lowered the firm’s price target on Volkswagen (VWAGY) to EUR 102 from EUR 103 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results for global automakers. Sector shares have pulled back, and while consensus numbers have been scaled down, there is further downside risk to estimates amid bearish macro sentiment, with many investors wondering a deflationary period after post-pandemic price hikes has arrived, the analyst tells investors in a research note.
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