What's Going On With VinFast Auto Stock?
Portfolio Pulse from Erica Kollmann
VinFast Auto Ltd. (NASDAQ:VFS) shares rose after the Federal Reserve cut interest rates by 50 basis points. The company is set to report its second-quarter results, with analysts expecting a loss of 21 cents per share and $460.089 million in revenue. A recent probe by the National Highway Traffic Safety Administration into VinFast's EVs could impact the stock. Analysts have a positive outlook with a 12-month price target of $8.
September 19, 2024 | 8:39 pm
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VinFast Auto shares increased following a Fed rate cut, which could lower borrowing costs. The company is expected to report a quarterly loss, and a regulatory probe into its EVs could pose risks. Analysts maintain a positive outlook with a price target of $8.
The Fed's rate cut is generally positive for stocks as it reduces borrowing costs, which can benefit VinFast. However, the upcoming earnings report with expected losses and the ongoing NHTSA probe into its EVs could introduce volatility. Despite these factors, analysts' positive ratings and a higher price target suggest potential upside.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100