Bank of America downgrades VW, upgrades Daimler ahead of second-quarter results

Bank of America downgraded Volkswagen /zigman2/quotes/204309985/delayed DE:VOW3 -1.47% and Porsche /zigman2/quotes/209812019/delayed DE:PAH3 -1.95% to neutral from buy while it upgraded Daimler /zigman2/quotes/205332368/delayed DE:DAI +1.33% to buy from neutral. It kept its rating on BMW /zigman2/quotes/209548467/delayed DE:BMW -1.00% at neutral. "First, we think premium car makers will perform better than mass market peers [in second-quarter results] driven by their more international exposure, particularly to China. Second, we think that June could be a weak month for Europe with Germany likely to underperform the rest of the region due to delayed demand as consumers wait to benefit from VAT cuts," the broker said.

/zigman2/quotes/204309985/delayed

Add to watchlist DE:VOW3

Volkswagen AG Non-Vtg Pfd.

DE : Germany: Frankfurt

€ 146.46

-2.18 -1.47%

Volume: 11,010

Nov. 27, 2020 8:59p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

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Rev. per Employee

€354,929

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Add to watchlist DE:PAH3

Porsche Automobil Holding SE Pfd

DE : Germany: Frankfurt

€ 55.24

-1.10 -1.95%

Volume: 337.00

Nov. 27, 2020 8:59p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

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Rev. per Employee

€110,160

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Add to watchlist DE:DAI

Daimler AG

DE : Germany: Frankfurt

€ 56.45

+0.74 +1.33%

Volume: 10,689

Nov. 27, 2020 8:59p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

N/A

Rev. per Employee

€560,333

/zigman2/quotes/209548467/delayed

Add to watchlist DE:BMW

Bayerische Motoren Werke AG

DE : Germany: Frankfurt

€ 73.18

-0.74 -1.00%

Volume: 1,734

Nov. 27, 2020 8:58p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

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Rev. per Employee

€723,779