RBC cuts Volkswagen stock target from EUR 120 to EUR 115

Published on 10/20/2026 at 09:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Volkswagen delivered 6.0 million vehicles, down 9.00 percent. Volkswagen stock costs EUR 69.25 on October 20, 2026, 0.33 percent below Xetra close.

Targets, results and scheduled dates

RBC Capital lowered its Volkswagen target from EUR 120.00 to EUR 115.00.
Volkswagen reported EUR 5.9 billion of operating profit in the first half of 2026, down 11.6 percent.
Volkswagen stock trades at EUR 69.25 at 9:42 a.m. CEST at Lang & Schwarz on October 20, 2026, 0.33 percent below the Xetra close of October 19, 2026.

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Volkswagen AG (ISIN DE0007664039) is preparing for its next results with 6.0 million vehicles delivered through September 2026, down 9.00 percent from the prior-year period. Stock Analysis reported that RBC Capital lowered its target from EUR 120.00 to EUR 115.00 while retaining an Outperform rating.

RBC target resets the valuation

The target cut gives investors a clear counterweight to Volkswagen's long-term restructuring story. MarketScreener reported that Deutsche Bank maintained a Buy rating and a EUR 105.00 target after Volkswagen presented a cost-optimization program worth EUR 30 billion through 2030. The bank identified execution, pricing pressure and rising battery-electric vehicle penetration as key challenges.

What does the margin mean?

Volkswagen's first-half figures show why the target debate remains tied to profitability. The company reported EUR 158.1 billion of revenue and EUR 5.9 billion of operating profit in the first half of 2026, with operating return on sales at 3.8 percent. The operating result was 11.6 percent below the EUR 6.7 billion recorded in the first half of 2025, according to the Volkswagen Group.

Three milestones set the chronology

On July 24, 2026, Volkswagen reported first-half operating profit of EUR 5.9 billion and an operating margin of 3.8 percent, according to the Volkswagen Group. On September 18, 2026, the company updated its fiscal-year 2026 outlook to an operating return on sales of up to 1.00 percent. On October 12, 2026, Volkswagen reported 6.0 million deliveries through September, down 9.00 percent from the prior-year period.

Dates for the next report

The next scheduled event is the January to September 2026 report on October 29, 2026, followed by the UBS European Conference on November 11, 2026, according to the Volkswagen Group. The October report will provide the next test of delivery trends, margin pressure and the effect of the revised outlook.

Stock trades below Xetra close

Volkswagen stock was trading at EUR 69.25 at Lang & Schwarz on October 20, 2026 at 9:42 a.m. CEST, down 0.33 percent versus the Xetra close of October 19, 2026 at EUR 69.48. The quote sits within the 52-week range of EUR 65.92 to EUR 109.15, while the market capitalization is EUR 34.7 billion. The further course of trading is shown by the continuously updated real-time quote of Volkswagen stock.