Oddo BHF confirms its 'outperform' rating on Porsche, but lowers its target price from €97 to €92, reflecting the lowering of its estimates for the German automaker following its half-year results.

While acknowledging that Porsche published solid quarterly results that beat expectations, the research firm points out that this performance is tempered by the downward revision of the 2024 guidance.

After a significant derating of the stock, Oddo BHF 'continues to see significant rebound potential, even if it may/surely take a little patience to see the resolution of the production environment and renewed market confidence'.

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