Porsche AG Kept at Buy as Deutsche Bank Notes 'More Credible' New Midterm Targets

12:15 PM EDT, 10/09/2026 (MT Newswires) -- Deutsche Bank Research maintained its buy rating on Porsche AG (P911.F) as it took note of the German automaker's "more credible" medium-term financial targets under the new strategy recently unveiled at a capital markets day. "The CMD largely delivered on the five pillars we expected ahead of the event. Rather than promising a return to historical growth rates, management focused on premiumisation, productivity, capital efficiency and cash generation. Porsche reiterated its intention to create more value per vehicle, supported by a richer mix, greater exclusivity and stronger pricing power, including a new halo model above the 911 and a target to increase the average selling price of its top 10,000 vehicles," analysts said in a Friday note. "Coupled with tangible productivity measures and a framework that assumes structurally lower China volumes, we believe the strategy is increasingly centred on building a more exclusive, efficient and cash-generative business, making today's ambitions appear more credible than prior targets." Under its Sportwagenschmiede '35 strategy, Porsche aims to achieve group sales of 41 billion euros to 45 billion euros in the medium term and reaffirmed its target of 10% to 15% in operating return on sales. The stock's price target of 55 euros was also retained.