Kepler Capital Believes Ferrari (RACE) Won’t Stop Here
Ferrari (RACE) received a Buy rating and a EUR200.00 price target from Kepler Capital analyst Thomas Besson on November 25. The company’s shares closed last Wednesday at $212.39, close to its 52-week high of $215.48.
According to TipRanks.com, Besson is a 1-star analyst with an average return of -2.6% and a 46.2% success rate. Besson covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Daimler.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ferrari with a $229.44 average price target, implying an 8.6% upside from current levels. In a report issued on November 17, Merrill Lynch also maintained a Buy rating on the stock with a $270.00 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.