Ferrari N.V (RACE) Tops Q2 EPS by 6c, provides Guidance

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Go back to Ferrari N.V (RACE) Tops Q2 EPS by 6c, provides Guidance

Ferrari a 'prime stock to own' - Barclays

August 2, 2024 9:43 AM EDT

Barclays upgraded Ferrari N.V (NYSE: RACE) to Overweight following the company's strong Q2 performance, highlighting it as a "prime stock to own" after the strong beat.

This decision comes after Ferrari beat EBIT consensus by 7% on August 1, achieving a record 29.9% margin and raising its FY24 guidance to over 27.5% from the previous 27%.

The bank notes that in the first half of 2024,... More

Ferrari (RACE) PT Raised to $475 at Evercore ISI

August 2, 2024 5:04 AM EDT

Evercore ISI analyst Michael Binetti raised the price target on Ferrari (NYSE: RACE) to $475.00 (from $465.00) while maintaining a Outperform rating.

The analyst comments "Bottom Line: While our 2Q preview (link here) anticipated another quarter of tougher margin flow-through (which happened), every... More

Ferrari shares pop as luxury carmaker hikes full-year guidance

August 1, 2024 7:30 AM EDT

Ferrari N.V. (NYSE: RACE) reported better-than-expected earnings for the fiscal Q2 and raised its adjusted EBITDA forecast for the full fiscal 2024.

The carmakers shares rose 5% in premarket trading Thursday.

Ferrari posted Q2 earnings per share (EPS) of EUR 2.29, beating the analyst estimate of EUR 2.23. Revenue came in at EUR 1.71 billion, slightly below... More