(CercleFinance.com) – Stifel initiated monitoring of the Porsche stock on Tuesday with a ‘hold’ recommendation and a target price of 98 euros.
If he says he appreciates the quality of the German manufacturer of high-end cars, the analyst explains that he would have to consider the manufacturer of the 911 as a luxury value to be more positive on the file, a step that he has not yet decided to cross in view of the current context.
‘Perhaps a car at 100,000 euros is not the wisest choice in a period of economic slowdown,’ said the intermediary in a note.
‘A Ferrari customer will choose a Ferrari no matter what, buying a BMW is more functional, at least to go to work, but a Porsche is the type of goods that people buy when their bonuses have been excellent, when real estate prices soar and when the stock market explodes, ”he recalls.
‘It has been the case for the past 12 years, but it won’t be next year,’ anticipates Stifel.
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