After an already torrid year, the last thing Aston Martin must want to hear now is that it should be more like its arch-rival Porsche.
But that’s exactly what analysts at Credit Suisse have said about the car maker. They warn that it is too dependent on the UK and would improve if it had a better spread of sales across the world like those of its more diversified German peer.
Turning sour on the company behind James Bond’s favourite marque, Credit Suisse downgraded its rating to ‘neutral’ from ‘outperform’ after a recent profit warning and slashed the target price on its stock by more than two-thirds to 529p.
That made grim reading for a firm that floated at 1900p ten months ago and has only seen its value crumble since then.
Added to this, the Financial Times reported hedge funds have taken record short positions in the company by buying up its debt. This and Credit Suisse’s bearish take sent shares down 4pc, or 20.2p, to 490.8p meaning its stock has now fallen by 60pc since the start of this year.
- Aston Martin