Porsche: HSBC reduces price target, remains Buy
(CercleFinance.com) - On Thursday, HSBC maintained its buy recommendation on Porsche, while lowering its target price for the stock from E92 to E90.
In a research note, the broker regrets that the supply difficulties currently facing the German group have clouded a second-quarter publication that it considers satisfactory.
Beyond the worries that continue to loom over the remainder of the year, the broker believes that the luxury carmaker is in a position to return to a margin of 17% to 19% next year, or even 20% in the long term.
In its view, second-quarter results have highlighted the significant operational potential available to the group, both in terms of product mix and price control.
Its new price target thus shows a potential upside of 31%.
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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 decision-making aids 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.
In a research note, the broker regrets that the supply difficulties currently facing the German group have clouded a second-quarter publication that it considers satisfactory.
Beyond the worries that continue to loom over the remainder of the year, the broker believes that the luxury carmaker is in a position to return to a margin of 17% to 19% next year, or even 20% in the long term.
In its view, second-quarter results have highlighted the significant operational potential available to the group, both in terms of product mix and price control.
Its new price target thus shows a potential upside of 31%.
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 decision-making aids 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.