Volkswagen Kept at Buy as Berenberg Notes Ongoing Restructuring Plan

06:04 AM EDT, 09/17/2026 (MT Newswires) -- Berenberg affirmed its investment case on Volkswagen (VOW.F, VOW3.F), saying the German automotive group's Future Plan 2030 restructuring strategy removes near-term overhang, while emphasizing that operational execution is "critical." "VW's supervisory board unanimously approved the Future Plan 2030 for the Volkswagen Group. Investors are unlikely to reward the plan's rather ambitious 2030 financial targets (including a doubling of group margins despite flat volumes and continued competitive pressure) until consistent execution and key milestones, including plant closures and asset disposals, are gradually achieved. That said, solid cost execution and the rapid strategic U-turn in China are encouraging proof points," analysts said in a Wednesday note focused on the European automotive sector. The research firm expects 2027 to bring "intense" labor negotiations, with restructuring one-off charges projected to reach between 10 billion euros and 12 billion euros over 2027 through 2030, skewed toward 2027 and 2028. However, planned asset disposals are anticipated to offset the net cash impact. Accordingly, Berenberg maintained its buy rating and price target of 100 euros on the stock.