RACE - Porsche: Reduced Share Price Provides A Buying Opportunity
2024-02-15 21:44:19 ET
Summary
- Porsche AG shares have retreated below their IPO price from September 2022. The market is concerned about weak 2023 sales in China and a cautious 2024 outlook.
- Porsche increased deliveries in 2023 by 3%, will all regions except China at around +10%. Deliveries in China declined by 15% YoY.
- Porsche has an ambitious EV roadmap, creating both opportunity and risk for - according to Brand Finance - the world's most valuable luxury brand.
- The current share price is a buying opportunity for long-term investors.
(Note: all amounts in the article are in EUR. At the current exchange rate 1 EUR is around 1.08 USD)
Investment Thesis
Dr. Ing. h.c. F. Porsche AG (Porsche AG) (DRPRY) (DRPRF) shares have seen a setback over the last months and are now below their 2022 IPO price of 82.5 euros....
Porsche: Reduced Share Price Provides A Buying Opportunity