Barclays upgraded Dr. Ing. h.c. F. Porsche AG from underweight to equal weight. The bank increased its price target for the stock by 25%, moving from €40 to €50.
Analysts cited stabilized consensus earnings revisions and a lack of near-term negative catalysts for the change. Porsche maintains a higher valuation than industry peers such as BMW and Mercedes-Benz.
Barclays lowered its underlying EBIT estimates for the automaker for 2026 and 2027. The bank anticipates a decline in vehicle deliveries during those years.
A recovery is expected in 2028 following the launch of new models. Markets appear to have factored in current challenges, shifting focus toward the company's recovery potential.