According to foreign media reports, on July 10, the share price of luxury car manufacturer Porsche rose by 3.
9%, becoming one of the largest gainers in the Frankfurt blue-chip DAX index.
Some traders made positive comments after Porsche held an investor conference call.
On July 9, Porsche held a pre-close call to brief analysts before the start of the silent period before the quarterly earnings release.
A trader said Porsche’s profit margins will improve in the second quarter and its cash conversion rate will also improve, the latest sign that its high-margin luxury cars can provide some profit protection amid weak sales in the Chinese market.
Image source: Porsche, Goldman Sachs maintained its “buy” rating on the stock in a report after the conference call and expected “Porsche’s second-quarter results to be more normalized after a challenging first quarter.
” In the first quarter, the company replaced the Panamera and Taycan models and encountered some restrictions when shipping to the United States.
” Stifel also said Porsche’s operating margins should have “significantly improved” in the second quarter compared to the first quarter.
In addition, Porsche also confirmed its full-year profit margin guidance target of 15% to 17%.
, Porsche’s share price has fallen by more than a fifth in the past three months, partly because of the group’s weak performance in China, Porsche’s most important market.
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