Investment bank Goldman Sachs has raised its rating on truck maker Volvo, from ‘neutral’ to ‘buy’.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The bank’s analysts said in a research note that Volvo’s shares now represented an investment opportunity.
The broker said concerns over the impact of an expected decline in the US truck market in 2007 had depressed Volvo’s valuation, which now more than discounted the prospective downturn and offered an investment opportunity.
Goldman Sachs has a price target of 450 Swedish crowns on Volvo.
