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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