FRANKFURT (dpa-AFX) - Shares in Porsche AG, which recently fell to a record low, are continuing their recovery attempt on Wednesday. Investors were prepared for bad news, and as a result, the sports car manufacturer's share price rose by a further 1.4 percent at the Xetra opening. The shares had already gained around four percent the previous day as part of a sector recovery and the presentation of figures by parent company Volkswagen. The latter's shares were also up slightly by 0.1 percent on Wednesday.
The positive price reaction to what was actually bad news suggests a sense of a new beginning among investors. This is because the company is actually taking a cautious view of the current year following a slump in profits last year. Goldman Sachs analyst Christian Frenes also noted that expectations, which were already low, were missed in the fourth quarter.
Stephen Reitman of Bernstein Research is now keen to see how the new CEO, Michael Leiters, performs in his first conference call. The core question is to what extent he can accelerate a transformation towards the medium-term goal of an operating margin that returns to double digits. For 2026, this is forecast to be in the range of 5.5 to 7.5 percent, which according to Reitman is slightly below expectations./tih/stk
