Volkswagen's Stock Rebound Leaves Daimler and BMW in the Dust
- Profit upgrade, valuation, diesel scandal progress draw buyers
- Company now managed for efficiency, more focused: Evercore ISI
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Volkswagen AG’s rebound from the diesel emissions scandal and an upgraded earnings forecast has helped the stock to surge ahead of its German peers.
VW’s preference shares returned 23 percent this quarter through Friday, best among European auto stocks, while Daimler AG has gained 5.3 percent and BMW AG is little changed. Porsche Automobil Holding SE, which owns a majority of VW common shares, has done even better -- advancing 31 percent.