Porsche share: HSBC analyst recommends buying after price setback - price target 100 euros

Porsche share: HSBC analyst recommends buying after price setback - price target 100 euros

According to a report by www.deraktionaer.de,

After Porsche AG shares have fallen sharply in recent months, they are now receiving tailwind from HSBC. Analyst Michael Tyndall recommends buying the DAX stock and upgrades the stock from “Hold” to “Buy”. According to Tyndall, the sports car manufacturer's China risks have already been more than priced in and the paper is now attractively valued. The analyst's price target is 100 euros.

The reasons for the share price's decline were complex, including that sales figures in China fell by 12 percent in the third quarter. However, Porsche plans to take countermeasures by focusing on profitability instead of volume in China in the future and investing more in customer orientation and infotainment. In addition, the fully electric Macan is scheduled to come onto the market in the second quarter of 2024 and the new Cayenne will drive sales figures.

Based on this information and taking into account the positive developments at Porsche, it is likely that the stock will rise in the future. The focus on profitability and new products could bring the stock back towards 100 euros. An improved price mix in 2024 could also contribute. These developments could have positive effects on the market and the financial industry.