Analysts at Goldman Sachs Group Inc. are telling clients to buy shares of Aston Martin Lagonda Global Holdings Plc for the first time in nearly four years, saying the luxury carmaker’s current pipeline of vehicles is unmatched in its 110-year history.
(Bloomberg) — Analysts at Goldman Sachs Group Inc. are telling clients to buy shares of Aston Martin Lagonda Global Holdings Plc for the first time in nearly four years, saying the luxury carmaker’s current pipeline of vehicles is unmatched in its 110-year history.
Analysts led by George Galliers nearly doubled their price target on the stock, predicting Aston Martin will unveil a fresh core model every quarter through the end of next year. New special models including the DBR22 and Valour should also help deliver higher average selling prices and profit margins, they wrote in a note.
Aston Martin shares jumped as much as 6.9% in London, outpacing a broad UK rally fueled by lower-than-expected inflation data. Goldman’s 12-month price target of 413 pence implies a gain of 25% from Tuesday’s close.
Since the bank lifted its rating to neutral from sell in May 2021, Aston Martin’s shares have roughly halved in value.
They are down about 90% since a high-profile 2018 initial public offering, dragged down by worries about a slowdown in sales and mounting debt.
–With assistance from Thyagaraju Adinarayan.
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