Porsche: BofA starts tracking at ‘neutral’

( – BofA began monitoring Porsche shares on Tuesday with a ‘neutral’ opinion and a price target set at 110 euros, believing that it is time to take a break after the thunderous start to the stock market of the automotive group.

In its note, the intermediary notes that the stock of the premium carmaker has gained almost 25% since its IPO, a performance ‘worthy of a 911’ which now leads it to trade in line with luxury values.

BofA acknowledges that it expects a solid performance from the sports car manufacturer by 2024/2025, with the arrival of its electric models (Macan, 718, Cayenne) and the implementation of the EPP platform.

Until then, he points out, however, 2023 could turn out to be a simple ‘transition year’, marked by the preparation for the launch of these new vehicles and large investment expenditures, he argues.

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