Ferrari: shares up on Bernstein upgrade
(CercleFinance.com) - Ferrari shares are up almost 2% on Tuesday after Bernstein said it is upgrading the stock to "market-perform".
While acknowledging that Ferrari is a "very expensive stock" (the Italian car maker has a market cap of 20 billion euros, while it only produces 9,000 cars a year), Bernstein says it sees "no obvious negative catalysts."
"This small but beautiful company is going to continue to grow profits, gradually but consistently," the broker wrote in a note.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
While acknowledging that Ferrari is a "very expensive stock" (the Italian car maker has a market cap of 20 billion euros, while it only produces 9,000 cars a year), Bernstein says it sees "no obvious negative catalysts."
"This small but beautiful company is going to continue to grow profits, gradually but consistently," the broker wrote in a note.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.