Porsche Automobil: Racing To Outperform In 2024

Brandon Woyshnis According to my projections, declining interest rates and strengthening consumer demand have the potential to create a favorable environment for outperformance in the automotive sector in 2024. In that context, I am particularly optimistic about Porsche (OTCPK:DRPRY), due to the company’s strategic focus on value over volume, as well as pragmatic approach to the EV transition. To render the argument even more attractive, I point out that Porsche is currently cheap, with shares trading at an EV/EBIT of around 10x. Based on a residual earnings valuation model, I argue Porsche stock should be worth about $13.4/ share. “Buy”….