FRANKFURT (dpa-AFX) - Porsche AG shares rose for the sixth consecutive trading day on Wednesday. Before the recovery began, they had plumbed their lowest price since the Borsen IPO in September 2022 at 65.66 euros. The shares have since recovered by a good 15 percent from this record low. On Wednesday, they recently rose by 4.4 percent. This made the share the biggest winner on the DAX.

Analyst Philippe Houchois from Jefferies drew a positive conclusion from an investor event the previous day. The car manufacturer had given a "confident message" regarding recovering wholesale volumes. Porsche AG's comments on its product range and higher average selling prices supported his estimates, Houchois said. Managers had emphasized great flexibility in both manufacturing and customs.

With the recovery, the share price had recently broken out of a downward trend that began in April. In the short term, one trader identified 78 euros as an important target. This is where a recovery high from the beginning of June and a striking low from mid-March lie. A rise above 78 euros should brighten the technical picture even more./bek/mf