(CercleFinance.com) – Stifel renewed its buy recommendation on Volkswagen on Monday as the German automaker’s board of directors meets today to discuss the proposed IPO of Porsche, the car brand high end of the group.
In an unprecedented combination of circumstances, notes the analyst, the idea of an IPO for the brand had been formalized on the same day as Russia’s invasion of Ukraine, while today’s meeting Today coincides with Moscow’s decision to stop gas deliveries to Germany.
‘That said, the plan to put Porsche on the stock market is a clearly positive element for Volkswagen’, argues the intermediary.
If he had a tendency, until now, to prefer the title of the holding company Porsche Automobil Holding with a view to exposing himself to the operation, Stifel cannot help pointing out that his title outperformed that of Volkswagen by 9%. since mid-June.
Knowing that Porsche could be valued at around 85 billion euros during its IPO, the professional now recommends favoring VW shares in order to be exposed to the transaction, due to the company’s lower debt.
According to market sources, Porsche’s IPO is expected to take place in late September or early October.
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