Mercedes-Benz Group AG is facing declining sales and profits as the luxury automotive market feels pressure from Chinese manufacturers like BYD Co. These companies are redefining "Made in China" as a symbol of luxury in the electric vehicle sector, challenging established brands in Europe and beyond.
UBS has maintained a "Buy" rating for Porsche AG, setting a target price of 87 euros, despite a slight disappointment in the company's operating profit margin for the third quarter. Analyst Patrick Hummel noted an unattractive outlook for the upcoming year, with expectations for earnings per share in 2025 likely to decline.
UBS has maintained a 'Buy' rating for Porsche AG with a target price of 87 euros, following the company's third-quarter results. Analyst Patrick Hummel noted a slight disappointment in the operating profit margin and described the outlook for the upcoming year as "unattractive," suggesting a likely decline in earnings per share expectations for 2025.
UBS has maintained its "Buy" rating for Porsche AG, setting a target price of 87 euros, following the company's third-quarter results. Analyst Patrick Hummel noted a slight disappointment in operating profit margins and an unattractive outlook for the upcoming year, suggesting a potential decline in earnings per share expectations for 2025.
UBS has upgraded its rating for Porsche AG to "Buy," setting a target price of 87 euros following the company's third-quarter results. Analyst Patrick Hummel noted a slight disappointment in the operating profit margin and described the outlook for the upcoming year as "unattractive," suggesting a likely decline in earnings per share expectations for 2025.
UBS has maintained its "Buy" rating for Porsche AG, setting a target price of 87 euros following the company's third-quarter results. Analyst Patrick Hummel noted a slight disappointment in the operating profit margin and described the outlook for the upcoming year as "unattractive," suggesting a likely decline in earnings per share expectations for 2025.
Porsche AG is considering cost cuts and a review of its model lineup following a sales slump in China that has significantly impacted profits. The Chief Financial Officer noted that the third quarter of 2024 was the weakest, with global demand for electric vehicles also declining. Despite these challenges, the company remains optimistic about a recovery in demand by year-end.
Investors are closely monitoring economic data as the US election looms, with a key speech by Christine Lagarde expected to influence monetary policy. Upcoming reports include purchasing managers' indices and the ifo index, which may provide insights into the German economy. Following a record high of 19,674 points, profit-taking is anticipated, with a trading range between 19,000 and 20,000 points in focus.
The DAX 40 is eyeing the 20,000 points mark as the reporting season unfolds, with key German companies like SAP, Deutsche Bank, and Porsche set to release quarterly figures. German producer prices have dropped more than expected, potentially influencing ECB interest rate decisions, while U.S. economic indicators, including the "Beige Book," will also be closely monitored. Geopolitical tensions and upcoming speeches from Fed members add to the market's volatility this week.
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