Ferrari lifts forecasts on pricier models and personal touches
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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
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
