Porsche: Oddo raises target price
(CercleFinance.com) - Oddo maintains its Outperform rating on Porsche shares, while raising its target price for them from 120 euros to 135 euros.
The group shows continued confidence in its ability - not only to generate growth but also to defend its margins in 2023, notes the analyst, for whom the challenge is possible thanks to its order book, a continued improvement in the production environment, but also price/mix effects.
Indeed, the group intends to increase prices across its entire portfolio by mid-year (+5%), and aims to continue to rely on the leverage of limited series, Oddo says.
Porsche is therefore targeting: 1/ sales of E40-42bn, i.e. growth of 6%-12%, which is above expectations and should be driven by a slight increase in volumes with a greater price effect, and an EBIT margin of 17% to 19%, the analyst adds.
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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 group shows continued confidence in its ability - not only to generate growth but also to defend its margins in 2023, notes the analyst, for whom the challenge is possible thanks to its order book, a continued improvement in the production environment, but also price/mix effects.
Indeed, the group intends to increase prices across its entire portfolio by mid-year (+5%), and aims to continue to rely on the leverage of limited series, Oddo says.
Porsche is therefore targeting: 1/ sales of E40-42bn, i.e. growth of 6%-12%, which is above expectations and should be driven by a slight increase in volumes with a greater price effect, and an EBIT margin of 17% to 19%, the analyst adds.
Copyright (c) 2023 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.