THIS auto stock is tipped to double in 2016 – CNBC
Volkswagen stock-holders may be about to see some light at the end of the tunnel.
One analyst believes the stock is ready to accelerate as VW attempts to put its diesel scandal behind it.
“I think it is the biggest stock for the year. It is the biggest turnaround story for autos and I think the stock can double”, Arndt Ellinghorst, Head of Global Automotive Research at Evercore ISI Group told CNBC on Monday.
He says VW’s reputation is holding up well against the diesel scandal.
“The VW brand is behaving relatively well. If you take out some of the cars that they couldn’t sell because of the CO2 cheat in Europe or the diesels in the U.S, it tells you that the brand still has very strong substance.”