Ferrari (RACE) was Downgraded to a Hold Rating at Kepler Capital
Kepler Capital analyst Alexandre Raverdy downgraded Ferrari (RACE) to Hold on May 3 and set a price target of EUR185.00. The company’s shares closed last Tuesday at $202.98.
According to TipRanks.com, Raverdy is a 1-star analyst with an average return of -2.5% and a 55.6% success rate. Raverdy covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Stellantis.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ferrari with a $231.97 average price target, implying an 11.1% upside from current levels. In a report issued on April 22, J.P. Morgan also maintained a Hold rating on the stock with a $198.00 price target.
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Ferrari’s market cap is currently $54.1B and has a P/E ratio of 54.50. The company has a Price to Book ratio of 2134.45.
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Italy-based Ferrari NV designs, manufactures and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars. It participates in car racing such as Formula One.