Volkswagen Stock: Positive Outlook Despite Market Challenges

Volkswagen's stock showed resilience on Tuesday, with a slight increase of 0.3% to €91.32 in XETRA trading. Despite the challenging market environment, the stock reached a daily high of €91.66. Analysts maintain an optimistic outlook, setting an average price target of €115.00, indicating significant upside potential. For the fiscal year 2024, experts project earnings per share of €23.45, underlining the automaker's attractiveness to investors.

Sustainability Efforts Boost Long-term Prospects

In a forward-looking move, Volkswagen has signed a memorandum of understanding with Thyssenkrupp Steel for the supply of CO2-reduced steel starting in 2028. This partnership aligns with Volkswagen's goal to reduce Scope 3 emissions and minimize environmental impact across its value chain. While the news had minimal immediate effect on the stock price, analysts suggest this strategic alliance could enhance Volkswagen's appeal to environmentally conscious investors in the long run, potentially driving future stock performance.