JPMorgan keeps EUR 110.00 target: Volkswagen stock sits 39.47 percent below it

Published on 10/15/2026 at 10:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Volkswagen delivered 6 million vehicles through September. Volkswagen stock costs EUR 66.58 on October 15, 2026, 0.69 percent below its Xetra close.

Analyst target and reporting date

JPMorgan kept a EUR 110.00 target and Neutral rating on October 13, 2026.
Volkswagen reported EUR 158.1 billion in first-half 2026 revenue, 0.20 percent below the prior year.
Volkswagen stock trades at EUR 66.58 at 10:45 a.m. CEST at Lang & Schwarz on October 15, 2026, 0.69 percent below the Xetra close of October 14, 2026.
Volkswagen will publish its first nine months 2026 results on October 29, 2026.

Monumentales Industrietor aus rotem Backstein mit großem Rundbogen — Volkswagen AG Vz (DE0007664039) – Monumentales Werkstor aus Backstein symbolisiert industrielle Stärke des Konzerns, Illustration mit AI erstellt.

Volkswagen AG (ISIN DE0007664039) was trading at EUR 66.58 at Lang & Schwarz on October 15, 2026, at 10:45 a.m. CEST, while JPMorgan kept a EUR 110.00 target and Neutral rating for the stock on October 13, 2026. The target leaves the share price 39.47 percent below the target, calculated against EUR 66.58.

The latest operating marker came on October 12, 2026, when Volkswagen Group reported deliveries of 6 million vehicles through September. The figure gives investors a volume reference, but the margin outlook remains the more immediate valuation test.

What do the margins mean?

Volkswagen's first-half 2026 revenue was EUR 158.1 billion, compared with EUR 158.4 billion in the first half of 2025. Operating profit reached EUR 5.9 billion, down 11.60 percent from EUR 6.7 billion, while the operating margin was 3.80 percent, according to Volkswagen Group.

Vehicle deliveries in the first half fell to 4.0 million from 4.4 million a year earlier, a decline of 9.09 percent. The company nevertheless reported a 3.80 percent operating margin for the period, leaving execution and product mix central to the next results update.

Volkswagen's three recent markers

On July 10, 2026, Volkswagen Group reported first-half deliveries of 4.1 million vehicles. On September 18, 2026, it updated its 2026 outlook to an operating margin of up to 1.00 percent, as reported by Zacks. On October 12, 2026, Volkswagen reported 6 million deliveries through September, the latest of the three dated markers.

Next reporting dates

The next scheduled company date is October 29, 2026, when Volkswagen Group will publish its January to September 2026 results. The investor calendar also lists the UBS European Conference in London on November 11, 2026.

Price tests the Xetra reference

At EUR 66.58, the Lang & Schwarz quote was EUR 0.46 below the Xetra close of October 14, 2026, at EUR 67.04, equal to minus 0.69 percent. For investors, the October 29 report will show whether the delivery scale can translate into stronger profitability.

The further course of trading is shown by the continuously updated real-time quote of Volkswagen stock.