Volkswagen's third-quarter results, which are due Oct. 30, may not turn out "too bad" but the outlook for the rest of the year is more negative, HSBC says. Limited capital expenditure and dividend payments from its Chinese joint ventures could offset poor performance of its VW and Audi brands in 3Q, the bank says. The group will take longer to recover from new emissions-testing rules introduced this summer in Europe however, HSBC says. It says Volkswagen could revise down its 2018 revenue and earnings guidance. The lender cuts its price target for the stock to EUR166 from EUR178. (max.bernhard@dowjones.com; @mxbernhard)

(END) Dow Jones Newswires

October 15, 2018 05:28 ET (09:28 GMT)