The German Central Cooperative Bank has downgraded Porsche's rating to "sell" with a target price of 37 euros.

Michael Pongratz, an analyst at Deutsche Zentral Genossenschaftsbank (DZ Bank), downgraded the rating of Porsche SE from "hold" to "sell." The target price was set at 37 euros, which means a decrease of 18% from the previous trading day. Porsche's quarterly earnings and sales, announced on April 29, were lower than expected.