Ferrari’s Price Target Raised at RBC Capital
RBC Capital analysts increased their price target for Ferrari (NYSE:RACE) to EUR 463 from EUR 380, maintaining an Outperform rating. The analysts noted that electric vehicles represent a substantial opportunity for Ferrari to further grow its revenue per unit.
This growth is underpinned by Ferrari's control over its order book, which influences residual values and, subsequently, the pricing and mix of new car sales.
Additionally, the potential for customization provides a pathway to enhance margins without the need to increase production volumes.
| Symbol | Price | %chg |
|---|---|---|
| 005385.KS | 155800 | 0 |
| 005389.KS | 153600 | 0 |
| 005387.KS | 156700 | 0 |
| 005380.KS | 244000 | 0 |
Ferrari Cut to Sell at Citi
Citi analysts slashed Ferrari's (NYSE:RACE) rating to Sell from Neutral due to valuation concerns. The bank appreciates Ferrari's high quality and growth potential but believes the current valuation is too high. The price target has been increased to €329 from €308, reflecting slight adjustments in earnings forecasts and long-term capital expenditure expectations. However, this target remains 15% below Ferrari's current share price.
The analysts find it challenging to justify a Neutral rating, which would suggest a price target of nearly €400. Despite acknowledging the possibility of being premature in this assessment, especially in a market favoring "quality" stocks, the analysts cited Ferrari's 30% price increase since December and its trading at nearly 12x sales and 57x fiscal 2024 PE as reasons for the downgrade to Sell.
Ferrari Cut to Sell at Citi
Citi analysts slashed Ferrari's (NYSE:RACE) rating to Sell from Neutral due to valuation concerns. The bank appreciates Ferrari's high quality and growth potential but believes the current valuation is too high. The price target has been increased to €329 from €308, reflecting slight adjustments in earnings forecasts and long-term capital expenditure expectations. However, this target remains 15% below Ferrari's current share price.
The analysts find it challenging to justify a Neutral rating, which would suggest a price target of nearly €400. Despite acknowledging the possibility of being premature in this assessment, especially in a market favoring "quality" stocks, the analysts cited Ferrari's 30% price increase since December and its trading at nearly 12x sales and 57x fiscal 2024 PE as reasons for the downgrade to Sell.
