Porsche SE Shares Could Be Dragged by Weak Volkswagen Performance -- Market Talk

Dow Jones04-02

0927 GMT - Porsche SE's shares might be weighed by its ownership stake in carmaker Volkswagen, while its other core holding, sports-car maker Porsche AG, is expected to remain resilient, UBS analysts say in a note. Volkswagen faces headwinds, including weaker near-term earnings and free cash flow outlook as well as a heightened CO2 compliance risk in Europe by 2025, UBS says. On the other hand, Porsche AG exceeded expectations in 4Q, they say. UBS cut the stock rating for Porsche SE to neutral from buy, also factoring full-year results and losses from outstanding litigation claims. Shares fall 0.9% to EUR48.70. (helena.smolak@wsj.com)

(END) Dow Jones Newswires

April 02, 2024 05:28 ET (09:28 GMT)

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UBS cut the stock rating for Porsche SE to neutral from buy, also factoring full-year results and losses from outstanding litigation claims. Shares fall 0.9% to EUR48.70. 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