VW shares up according to HSBC study – new positions on the brand board

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For the assets listed in the DAX, XETRA temporarily fell by 1.11 percent to EUR 150.32. The tribes, meanwhile, fell by 1.39 percent to 194.55 euros. In the meantime, however, the wind has turned: the preferred shares are currently rising 0.8 percent to 153.22 euros, for the common stocks it is 0.51 percent up to 198.30 euros.

HSBC analyst Edoardo Spina withdrew his buy recommendation for the common stocks but reiterated it for the preferred stocks. For both categories, he lowered his price target to 188 euros, which still signals a potential of almost a quarter in the merits.

The core of the study is the calculation of the value of Porsche AG for its IPO, which is likely to take place in the fall. Spina estimates it between 44.5 and 56.9 billion euros and thus remains below the up to 85 billion euros that recently went through the press. He also cuts his earnings estimates for Wolfsburg.

Nevertheless, Spina sees a great opportunity for value creation in the IPO of the VW sports car subsidiary. According to the expert, a successful parallel was the spin-off from Ferrari at Fiat Chrysler. An important question for many investors, however, is to what extent Porsche AG can go its own way, given the interdependence of the ownership and management structure with VW.

Volkswagen fills several positions on the brand board of directors

The Volkswagen Group has filled several management positions at the eponymous brand. As announced by the Wolfsburg-based company, Thomas Ulbrich, currently Brand Board Member for Technical Development at Volkswagen Passenger Cars, will become head of the newly created “New Mobility” department, in which Volkswagen Passenger Cars’ e-series and software expertise will be bundled. In addition, Patrik Andreas Mayer was appointed Chief Financial Officer of Volkswagen Passenger Cars. Currently the CFO is at Volkswagen Group Russia.

The previous CFO of the VW brand, Alexander Seitz, will take over the management of the South American business of the Volkswagen Group as Chairman. Ulbrich’s previous position as Board Member for Technical Development goes to Kai Grünitz, previously Head of Development at Volkswagen Commercial Vehicles.

“With the newly created Board of Management department New Mobility, we are bundling the strategic fields of action of e-mobility and software and thus increasing our speed of innovation,” said Thomas Schäfer, CEO of Volkswagen Passenger Cars and Group Board Member of the Volume brand group.

FRANKFURT (dpa-AFX) / FRANKFURT (Dow Jones)

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