Deutsche Bank has downgraded truck and bus manufacturer Volvo from "buy" to "hold," setting a new target price of 275 kronor (previously 280 kronor).
The downgrade follows a period of strong share price performance and what the bank describes as a high valuation.
Volvo's stock is currently trading more than 20 percent above its historical average and remains underrepresented in Germany compared to competitors Daimler Truck and Traton.
Deutsche Bank stated that it prefers these rivals due to their restructuring potential and expected market momentum from Germany, according to Investing.com.
Deutsche Bank has maintained a "buy" recommendation on Volvo for the past seven years, reports Di.

















