Aston Martin Bear Says It Needs a Billion Pounds to Catch Up With Ferrari
- Carmaker needs to compete with Ferrari while reducing debt
- Panmure sees further downside after 32% plunge in two days
An Aston Martin DB11 automobile sits at the assembly plant in Gaydon.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The only analyst with a sell rating on Aston Martin Lagonda shares says the luxury carmaker will need to raise at least a billion pounds ($1.25 billion) in fresh capital in order to remain competitive with rival Ferrari NV while reining in its net debt.
Aston Martin’s shares have plunged about 32% in two days after the company that went public in October reduced its guidance for full-year wholesale unit sales on Wednesday. Its value has slumped 63% since the high-profile trading debut.