Wsj view - seems fair and I am content to wait1 May 2024 09:58
Aston Martin Lagonda Global Holdings reported another large cash outflow for the first quarter and investors will likely remain on the sidelines as long as its cash flows stay in the red, Citi analysts say in a research note. The British luxury-car maker reported first-quarter results that missed expectations at both the top and bottom lines as it continues to prepare for new model launches this year, Citi says. A swing to a positive free cash flow on the back of a more solid and sustained cycle of new products remains the key indicator to look out for, and reaching this milestone could attract new investors to Aston Martin's recovery story, Citi says. Shares fall 7.4% to 137.20 pence. (adria.calatayud@wsj.com)