Porsche: Deutsche Bank initiates coverage as a buyer
(CercleFinance.com) - On Tuesday Deutsche Bank began to monitor Porsche AG shares with a buy recommendation and a target price of 115 euros.
In a report, the analyst points out that the luxury car manufacturer - whose financial results are resilient in times of crisis - is well on its way to generating growth of 5% to 10% p.a. in its business, while improving its profit margins despite its rise in the electric vehicle segment.
In this respect, the broker believes that Porsche is a good example of a car maker that is making a successful transition to electrification, without any detriment to the value of the brand.
For DB, the sports car manufacturer's IPO therefore offers investors the opportunity to participate in a business that has solid fundamentals, but also development opportunities through new offerings (especially with the Macan), merchandising and licensing agreements.
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