(News Bulletin 247) – Berenberg announced on Wednesday that it had initiated coverage of the Porsche Automobil Holding (Porsche SE) stock with a buy recommendation and a price target set at 76 euros.
In a research note, the analyst justifies his favorable advice by the stock market discount ‘much too large’ for his taste on which the holding company, which holds 31.9% of the capital of Volkswagen and 12.5% ​​of that of Porsche AG.
“We believe that the current market valuation of Porsche SE, which trades at a 45% discount to its net asset value (NAV) does not accurately reflect the current value nor the outlook for his investments of heart’, indicates the intermediary.
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