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(CercleFinance.com) – Oddo BHF downgrades its opinion on Aston Martin Lagonda (AML) from ‘neutral’ to ‘underperform’, with a price target lowered from 155 to 100 pence, the day after a warning issued by the car manufacturer on its 2024 guidance.
‘The group cites disruptions in its supply chain, but also weak demand in China, and finally efforts to smooth out its deliveries more evenly across quarters,’ points out the analyst, who lowers his 2024 EBITDA forecasts/ 25 of 22%/16%.
‘This new warning reminds us that Aston Martin has a classic cyclical manufacturer profile rather than a defensive ultra-luxury profile like Ferrari,’ adds Oddo BHF, which also highlights the British group’s limited financial room for maneuver.
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