On Thursday, HSBC maintained its buy recommendation on Porsche, while lowering its target price for the stock from €92 to €90.

In a research note, the broker regrets that the supply difficulties currently facing the German group have clouded a second-quarter publication that it considers satisfactory.

Beyond the worries that continue to loom over the remainder of the year, the broker believes that the luxury carmaker is in a position to return to a margin of 17% to 19% next year, or even 20% in the long term.

In its view, second-quarter results have highlighted the significant operational potential available to the group, both in terms of product mix and price control.

Its new price target thus shows a potential upside of 31%.

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