DJ MARKET TALK: Rheinland-Pfalz Lifts Volkswagen Estimates

09/01/06 - Dow Jones Newswires

0747 GMT [Dow Jones] Landesbank Rheinland-Pfalz raises Volkswagen's (VOW.XE) price target to EUR88 from EUR77 after extending the valuation horizon to the end of '07. Lifts '07 EPS estimate to EUR6.18 from EUR5.77, '08 EPS to EUR9.27 from EUR8.44 after the company said that so far 3,200 workers have accepted redundancy payments. Expects the company and workers to reach an agreement in restructuring talks by mid November. Sees years to come benefit from sustainable cost cuts and new models. Keeps at outperformer. Shares trade +0.1% at EUR62.40. (JUM)

 
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(END) Dow Jones Newswires

September 01, 2006 03:47 ET (07:47 GMT)

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