By Sam Boughedda
The analysts reiterated a Buy rating and lowered its price target on the stock to €66 (€1=$1.0881) from €81 in a note Friday, stating they have lowered their dividend expectations for the coming years as the company "needs to deleverage the balance sheet after last year's Porsche AG IPO."
The analysts said they expect the company to "remain a resilient luxury growth story (7% EPS CAGR UBSe) driven by price/mix and new products," adding that "positive development on litigation cases hasn't helped NAV discount so far."
"Porsche SE currently trade at 47% NAV discount, which is significantly above the 10-year average discount of 30%, applied to our PT (28% previously). We see potential for a narrowing of the discount once there are final rulings on the key legal cases," they concluded.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.