Why Volkswagen Stock Is Still Surging
Shares of German auto giant Volkswagen (OTC: VWAGY) were trading sharply higher on Monday morning, after a Wall Street analyst raised his bank's price target for the stock on a bullish view of the company's electric car plans.
As of 10:15 a.m. EDT, VW's American depositary shares were up about 10.5% from Friday's closing price.
In a new note on Monday, Deutsche Bank analyst Tim Rokossa raised his price target on Volkswagen's Frankfurt-traded ordinary shares to 270 euros, from 185 euros, while maintaining a buy rating on the stock.
Source Fool.com
