Volkswagen Stock: Shares Rally Despite Profit Decline

Volkswagen's stock demonstrated remarkable resilience on the trading floor, climbing 2.1% to reach €100.95, with an intraday peak of €101.15. This upward momentum represents a significant recovery of over 28% from its 52-week low of €78.86, though still considerably below the year's high of €128.60. The positive market response comes despite challenging market conditions, with the automotive giant experiencing notable fluctuations in its financial performance. The company's per-share earnings witnessed a substantial decrease to €2.42 in the latest quarter, down from €7.76 in the previous year, while revenue remained relatively stable at €78.48 billion.

Future Outlook and Dividends

Analysts maintain a cautiously optimistic stance on Volkswagen's future prospects, setting an average target price of €111.71, suggesting potential for moderate growth. However, shareholders should prepare for reduced dividend payments, with projections indicating a decrease from €9.06 to €6.47 per share for the current year. Looking ahead to 2024, experts forecast earnings per share to reach €22.02, indicating potential for recovery despite current market challenges.