Porsche: Oddo BHF remains positive, but lowers TP
(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Porsche shares, but lowers its target price for them from E97 to E92, reflecting its reduced estimates for the German automaker following its H1 results.
While acknowledging that Porsche published solid quarterly results that beat expectations, the broker points out that this performance is tempered by the downward revision of the 2024 guidance.
After a significant derating of the stock, Oddo BHF continues to see significant rebound potential, even if it may/surely take a little patience to see the resolution of the production environment and renewed market confidence.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
While acknowledging that Porsche published solid quarterly results that beat expectations, the broker points out that this performance is tempered by the downward revision of the 2024 guidance.
After a significant derating of the stock, Oddo BHF continues to see significant rebound potential, even if it may/surely take a little patience to see the resolution of the production environment and renewed market confidence.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.