In a report issued on November 18, Thomas Besson from Kepler Capital upgraded Ferrari (RACE) to Buy, with a price target of EUR200.00. The company’s shares closed last Thursday at $214.17, close to its 52-week high of $215.48.
According to TipRanks.com, Besson ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -3.3% and a 44.4% success rate. Besson covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Daimler.
Currently, the analyst consensus on Ferrari is a Moderate Buy with an average price target of $229.17, a 7.9% upside from current levels. In a report issued on November 4, Credit Suisse also maintained a Buy rating on the stock with a $240.00 price target.
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Based on Ferrari’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $888 million and net profit of $171 million. In comparison, last year the company earned revenue of $915 million and had a net profit of $168 million.
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Ferrari NV is a holding company. It manufactures luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari and the FF four-wheel drive. It participates in car racing such as Formula One. The company was founded by Enzo Anselmo Ferrari in 1939 and is headquartered in Maranello, Italy.
