Modest signs of recovery are expected to be seen from Aston Martin Lagonda Global Holdings PLC (LSE:AML) when it reports its full-year results , according to Goldman Sachs (NYSE:GS) in a note previewing the figures.
The bank expects 2022 luxury car sales to total £532mln, giving adjusted underlying earnings (EBITDA) of £107mln, and an EBIT loss of £7mln.
It also said it would be making ‘positive minor adjustments to outer year estimates.
In the note, Goldman said it expects supply chain and logistics constraints seen earlier in 2022 to have eased with deliveries in the fourth quarter ‘less impacted’.
“For 2023, we expect continued progress with 1H [the first half] assisted by the DBX 707 and V12 Vantage while 2H [second half] should see support from the first new front-engined vehicles,” investors were told
Goldman repeated its ‘neutral’ recommendation on the stock.
Of the 10 banks and brokerages logged as following Aston Martin, only two are positive on the stock in the carmaker. Five are fence sitters alongside Goldman, while another two are negative.
The consensus price target is 158p, a discount to the 193p the shares are currently changing hands for.