(CercleFinance.com) – Volkswagen gained nearly 2% in Frankfurt, the stock benefiting from a positive analysis by Oddo BHF which maintained its ‘outperformance’ rating on the group’s stock with an unchanged price target of 175 euros.
The analysis office in particular highlights the “attractive prospects” of Porsche whose CMD was organized yesterday, confirming “the quality of the asset” and “the solidity of its prospects”.
Oddo believes that Porsche’s future growth should be based on an addressable market (HNWI) expected to grow strongly over the decade, which should drive the luxury automotive segment by 2026 (+7% per year for luxury sports vehicles, +6% for luxury SUVs).
‘The manufacturer’s electrification strategy was already widely known upstream of the CMD and the group has therefore essentially confirmed its objectives’, indicates the analyst.
Porsche is aiming for growth in its turnover of 7-8% per year in the medium term and an operating profit of between 17 and 19%, to be compared with a turnover of 38-39 million euros and an operating profit of 17-18% targeted this year.
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