HSBC ups VW preferred stock to "overweight".

(ADPnews) - Jan 29, 2010 - HSBC upgraded on Friday its recommendation on the preference shares of carmaker Volkswagen (ETR:VOW3) to "overweight" from "neutral" and hiked the share price target to EUR 79 from EUR 63.

According to analyst Horst Schneider, the potential risks for the automotive industry are well-known, while the market pays little heed to the opportunities in the car sector. Car sales will add 5% in 2010 worldwide, propelled by solid figures in Brazil, Russia, India and China, or the so called BRIC countries, and the USA. However, European sales will probably fall by 7%, …