Deutsche Bank says changes to Aston Martin production setup will 'significantly' improve efficiency
Analysts at Deutsche Bank reiterated their 'hold' recommendation for shares of Aston Martin Lagonda following a visit to the carmaker's Gaydon headquarters.
During the visit top management highlighted changes to the company's production setup which the analysts said would "significantly" improve efficiency, while noting how the team on the ground had bought into the plans for change.
"To us, the showcased design studies for the product refresh that is ahead point to a strong model momentum building into 2023 which should support the mid-term financial ambitions," they said.
The analysts also noted that management was "very positive" on its ability to hit their medium-term financial targets with the planned strategic shift said to be "well on track".
"We see Aston Martin clearly moving in the right direction and laying ground for an acceleration to towards 2024/2025.
"That said, we see current trading in shares reflecting the balanced risk/reward in the near term and remain on Hold."
Their 1,800.0p target price was also unchanged.