(Sharecast News) – Analysts at Barclays reiterated their ‘overweight’ stance and hiked their target price for shares of Aston Martin Lagonda ahead of the carmaker’s next set of results on 26 July.
Most importantly, following the company’s Capital Markets Day and the recently announced deals with Geely and Lucid, they viewed Aston as more “derisked” and said that its potential had been “validated”.
They expected Aston’s second quarter earnings before interest, taxes, depreciation and amortisation to come in at £41m.
That would be in line or slightly ahead of the company’s own guidance.
They also anticipated a “much higher” outcome in the back half of the year.
The target price was raised from 300.0p to 375.0p.