In a report issued on October 20, Thomas Besson from Kepler Capital upgraded Ferrari (RACE) to Buy, with a price target of EUR170.00. The company’s shares closed last Wednesday at $189.93, close to its 52-week high of $199.97.
According to TipRanks.com, Besson is a 2-star analyst with an average return of 0.2% and a 46.5% 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 Strong Buy with an average price target of $223.86, implying a 18.0% upside from current levels. In a report issued on October 7, Societe Generale also maintained a Buy rating on the stock with a $217.00 price target.
See today’s analyst top recommended stocks >>
Based on Ferrari’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $571 million and net profit of $8.94 million. In comparison, last year the company earned revenue of $984 million and had a net profit of $182 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
