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

Bank of America downgraded Volkswagen /zigman2/quotes/204309985/delayed DE:VOW3 +0.25% and Porsche /zigman2/quotes/209812019/delayed DE:PAH3 +0.44% to neutral from buy while it upgraded Daimler /zigman2/quotes/205332368/delayed DE:DAI +0.56% to buy from neutral. It kept its rating on BMW /zigman2/quotes/209548467/delayed DE:BMW -0.47% 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

€ 135.74

+0.34 +0.25%

Volume: 6,497

Sept. 23, 2020 8:58p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

N/A

Rev. per Employee

€354,929

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Add to watchlist DE:PAH3

Porsche Automobil Holding SE Pfd

DE : Germany: Frankfurt

€ 49.93

+0.22 +0.44%

Volume: 2,534

Sept. 23, 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

€ 44.08

+0.25 +0.56%

Volume: 15,581

Sept. 23, 2020 8:58p

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

€ 60.87

-0.29 -0.47%

Volume: 712.00

Sept. 23, 2020 8:58p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

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Rev. per Employee

€723,779