Porsche AG
The sports car manufacturer was also able to benefit from good figures from its competitor Ferrari.
(Photo: Bloomberg)
The shares of the sports car manufacturer Porsche AG reached a record high on Thursday. The shares rose on the Xetra trading platform by 4.2 percent to EUR 114.10.
The previous record high of 112.15 euros came from December 2022. From there it fell to 91 dollars before the price turned up again: Manufacturers of high-priced cars are considered less susceptible to economic risks because affluent customers buy the products even in economically weak times.
On Thursday, Porsche stock benefited from two factors: Competitor Ferrari raised its forecast for 2023, indicating robust demand in the segment. On the other hand, analyst Michael Foundoukidis from Oddo declared the Porsche share to be his favorite in the industry “within a clear hierarchy”. His price target is 120 euros.
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