Volkswagen AG Vorz-Inhaber-Akt ohne Stimmrecht

VOW3: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€914.00	Dztvv	Bxj

Maintain No Moat Ratings for Renault, Stellantis, and VW as We Transfer Coverage; All Undervalued

Sep 18, 2024

Our views on the predominantly mass-market European automotive original equipment manufacturers Renault, Stellantis, and Volkswagen are unchanged following a transfer of analyst coverage. We maintain our no moat ratings for all three firms with our fair value estimates reflecting significant upside. We increase our fair value estimate for Renault to EUR 85, while our fair value estimates for Stellantis and Volkswagen decrease to EUR 32 and EUR 264, respectively.

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