Merrill Lynch Believes Ferrari (RACE) Won’t Stop Here
Merrill Lynch analyst John Murphy maintained a Buy rating on Ferrari (RACE) today and set a price target of $270.00. The company’s shares closed last Tuesday at $210.39, close to its 52-week high of $213.48.
According to TipRanks.com, Murphy is a 4-star analyst with an average return of 5.9% and a 61.4% success rate. Murphy covers the Consumer Goods sector, focusing on stocks such as Fiat Chrysler Automobiles, Penske Automotive Group, and Group 1 Automotive.
Currently, the analyst consensus on Ferrari is a Moderate Buy with an average price target of $229.08, which is an 8.7% upside from current levels. In a report issued on November 2, Kepler Capital also upgraded the stock to Buy with a EUR170.00 price target.
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The company has a one-year high of $213.48 and a one-year low of $127.73. Currently, Ferrari has an average volume of 233K.
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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.