Aston Martin’s DBX Could Be Game-Changing for Stock, HSBC Says
- Bank expects sales target for SUV to be hit in a few months
- Stock up 17% since earnings, but still well below IPO price
An Aston Martin DBX crossover concept automobile.
Photographer: Gianluca Colla/Bloomberg
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Sales of Aston Martin Lagonda’s new sports utility vehicle could exceed expectations, becoming the “ultimate catalyst” for the luxury carmaker’s beaten-down stock, according to analysts at HSBC Holdings Plc.
“After months of underperformance and the future of the company at stake, we believe the launch of the DBX is potentially game-changing,” the bank said in a note as it became the fourth firm among 13 surveyed by Bloomberg to recommend buying the stock, upgrading it from a neutral rating.