VinFast Auto Ltd. ( VFS ) shares traded higher Thursday after the Federal Reserve cut interest rates by 50 basis points (bps) on Wednesday. The company will report its second-quarter results before Friday's opening bell and host a conference call at 8 a.m. ET to discuss the results.

Here's A Look At What To Know 

What Happened: VinFast Auto ( VFS ) shares closed higher Thursday amid a broad market rally as investors digested the Fed's larger-than-anticipated interest rate cut which marked the first in more than four years.

The rate cut brings the federal funds rate down to a range of 4.75% to 5% and will reduce the cost of borrowing for companies and consumers. 

According to estimates from Benzinga Pro, analysts expect the company to report quarterly losses of 21 cents per share and $460.089 million in revenue. 

Read Next: What Happened With SoFi Stock Today?

What Else: Last week, the National Highway Traffic Safety Administration initiated a probe into VinFast's EVs based on complaints from vehicle owners. The probe covered around 3,118 vehicles manufactured in 2023 and 2024, with owners alleging that the vehicles had problems with the “Lane Keep Assist” system.

Owners claimed the EVs had difficulty detecting lanes on the roadway and provided improper steering inputs. 

Will VFS Stock Go Up?

When trying to assess whether or not VinFast Auto ( VFS ) will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $8 on VinFast Auto ( VFS ). Of all the analysts covering VinFast Auto ( VFS ), six have positive ratings, no one has a neutral rating and no one has a negative rating.

In the last month, two analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering VinFast Auto ( VFS ) have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. VinFast Auto ( VFS ) is 43.83% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about VinFast Auto ( VFS ), visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

VFS Price Action: According to Benzinga Pro, VinFast Auto ( VFS ) shares ended Thursday's session 2.06% higher at $3.96. 

Read Also:

What’s Going On With Carnival Stock?