{"id":3339,"date":"2022-11-09T12:42:31","date_gmt":"2022-11-09T11:42:31","guid":{"rendered":"https:\/\/a2kadvisory.com\/?p=3339"},"modified":"2022-11-09T19:22:00","modified_gmt":"2022-11-09T18:22:00","slug":"porsche-stock-is-a-wall-street-darling-with-22-surge-since-ipo","status":"publish","type":"post","link":"https:\/\/a2kadvisory.com\/fr\/2022\/11\/09\/porsche-stock-is-a-wall-street-darling-with-22-surge-since-ipo\/","title":{"rendered":"Porsche Stock Is a Wall Street Darling With 22% Surge Since IPO"},"content":{"rendered":"
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Photographer: Alex Kraus\/Bloomberg<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Porsche AG<\/a>\u00a0is brimming with analyst favor a little over a month after its landmark initial public offering.<\/p>\n

Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc. and Deutsche Bank AG analysts rated the luxury carmaker a buy or equivalent on Tuesday, lauding its brand presence, focus on electric vehicles and resilient financial performance. They are among a slew of brokers initiating coverage on the company, which has no sell ratings so far.<\/p>\n

\u201cWe believe Porsche offers unique exposure to the luxury automotive segment, enjoying strong pricing power, allowing the firm to face challenges\u201d including higher inflation costs, EV transition and autonomous driving, JPMorgan analysts led by Jose M Asumendi wrote.<\/p>\n

The company\u2019s \u20ac9.4 billion ($9.4 billion) IPO, Europe\u2019s largest in more than a decade, injected fresh life into a listings market that has struggled amid rising inflation, hawkish central banks and the threat of global recession. The shares have surged more than 20% since the late September\u00a0debut<\/a>, with the company overtaking parent Volkswagen AG as Europe\u2019s most valuable carmaker last month.<\/p>\n

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Analysts on average expect about another 5.1% gain in the next 12 months, based on\u00a0estimates<\/a>\u00a0compiled by Bloomberg. JPMorgan, the biggest bull, sees the stock hitting \u20ac140, implying a 40% rally.<\/p>\n