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Fly News Breaks for October 19, 2015
VLKAY
Oct 19, 2015 | 08:49 EDT
After conducting checks in Europe, Bernstein believes that fears of Volkswagen's sales volumes and profits taking "a lasting hit" are probably unfounded. Outside of Germany, the impact of the scandal on demand for the company's vehicles in Europe has been "very minor", according to the firm. Bernstein cut its estimates for Volkswagen significantly due to upcoming EU fines. However, the firm says it made only "modest changes" to its underlying EBIT estimates for the company. It keeps an Outperform rating on the shares.
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