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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 +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
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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/zigman2/quotes/209812019/delayed
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
N/A
Rev. per Employee
€110,160
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/zigman2/quotes/205332368/delayed
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
loading...
/zigman2/quotes/209548467/delayed
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
N/A
Rev. per Employee
€723,779
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