Volvo (STO:VOLV-B) Given a SEK 135 Price Target by Morgan Stanley Analysts
Volvo (STO:VOLV-B) has been assigned a SEK 135 price target by equities researchers at Morgan Stanley in a note issued to investors on Friday, Borsen Zeitung reports. The firm currently has a “sell” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 7.31% from the company’s previous close.
VOLV-B has been the topic of several other research reports. Royal Bank of Canada set a SEK 143 target price on Volvo and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. HSBC set a SEK 150 price target on Volvo and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Goldman Sachs Group set a SEK 203 target price on Volvo and gave the company a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank set a SEK 200 target price on Volvo and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, UBS Group restated a “sell” rating on shares of Volvo in a research note on Thursday, August 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of SEK 160.91.
Volvo stock traded up SEK 2.75 during midday trading on Friday, reaching SEK 145.65. 2,673,878 shares of the stock traded hands, compared to its average volume of 5,730,000. The company has a 50-day simple moving average of SEK 135.34 and a two-hundred day simple moving average of SEK 140.92. Volvo has a 12-month low of SEK 123.40 and a 12-month high of SEK 171.30.
AB Volvo is the parent company of the Volvo Group. The Volvo Group is a manufacturer of trucks, buses, construction equipment, diesel engines, and marine and industrial engines. The Volvo Group also provides solutions for financing and service. Its segments include Trucks, Construction Equipment, Buses, Volvo Penta, Group functions & Other, and Financial Services.
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