Porsche May Be Worth 33% Less Than Touted IPO Price, Quest Says

Porsche AG may be worth little more than two-thirds of the value being touted ahead of the luxury carmaker’s initial public offering, according to an analysis from Quest, a unit of Canaccord Genuity Ltd.

Volkswagen, the German group which owns the Porsche sports car brand, is seeking a valuation of 70 billion euros to 75 billion euros ($67.9 billion to $72.8 billion). But Quest analysts James Congdon and Veena Anand assessed Porsche’s equity value at between 48 billion and 50 billion euros.