Zacks Investment Research upgraded shares of VOLVO AB/ADR (OTCMKTS:VLVLY) from a sell rating to a hold rating in a research note published on Saturday.
According to Zacks, “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. The Company’s brand portfolio consists of Volvo, Volvo Penta, UD, Terex Trucks, Renault Trucks, Prevost, Nova Bus and Mack. In addition to vehicles and machines, its offering includes a range of services, such as insurance, rental services, spare parts, preventive maintenance, service agreements, assistance services and information technology (IT) services. Its product range is divided into Vehicles and Services. The sale of new vehicles, machinery and engines comprise Vehicles, as well as the sale of used vehicles and machines, trailers, superstructures and special vehicles. Its Services include the sale of spare parts. “
Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. reissued a neutral rating on shares of VOLVO AB/ADR in a research note on Monday, January 7th. Robert W. Baird raised shares of VOLVO AB/ADR from an underperform rating to a neutral rating in a research note on Thursday, February 7th. Finally, OTR Global downgraded shares of VOLVO AB/ADR to a positive rating in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. VOLVO AB/ADR currently has an average rating of Hold and an average target price of $16.00.
About VOLVO AB/ADR
AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, North America, South America, Asia, and internationally. The company offers trucks for long-haulage, construction, and distribution purposes under the Volvo, UD, Renault, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and bus chassis under the Volvo, UD, Prevost, and Nova Bus brands.
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