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June 16, 2020, 9:23 a.m. EDT

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

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By Steve Goldstein

Bank of America downgraded Volkswagen /zigman2/quotes/204309985/delayed DE:VOW3 +1.74% and Porsche /zigman2/quotes/209812019/delayed DE:PAH3 +1.71% to neutral from buy while it upgraded Daimler /zigman2/quotes/205332368/delayed DE:DAI +1.44% to buy from neutral. It kept its rating on BMW /zigman2/quotes/209548467/delayed DE:BMW +0.28% 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
DE : Germany: Frankfurt
173.38
+2.96 +1.74%
Volume: 5,711
Feb. 26, 2021 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€354,929
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/zigman2/quotes/209812019/delayed
DE : Germany: Frankfurt
66.50
+1.12 +1.71%
Volume: 0.00
Feb. 26, 2021 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€110,160
loading...
/zigman2/quotes/205332368/delayed
DE : Germany: Frankfurt
66.41
+0.94 +1.44%
Volume: 0.00
Feb. 26, 2021 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€560,333
loading...
/zigman2/quotes/209548467/delayed
DE : Germany: Frankfurt
71.40
+0.20 +0.28%
Volume: 0.00
Feb. 26, 2021 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€723,779
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