Porsche AG (P911.DE) preferred stock climbed 2.4% on July 6. Shares reached a price of €47.08 following a bullish report from UBS.
UBS designated the automaker as a top performer for the second quarter. The bank anticipates strong operating margins and solid free cash flow ahead of the July 29 earnings release.
Market sentiment also improved following reports of internal restructuring. Porsche may cut up to 4,000 management and administrative roles to streamline the organization and improve profitability.