Ferrari: Invest Securities raises target price

(CercleFinance.com) - Invest Securities reiterates its "buy" rating on the Ferrari stock, having raised its earnings estimates for the group, along with its target price (from 109 euros to 115 euros), despite the share's 8% rise, with investors hailing quality results publication by the sports car maker.


Analysts underline that the targets of the plan presented on the IPO have already been exceeded two years ahead of schedule. It also considers that Ferrari's targets through to 2021-22 are "very ambitious, but within reach".

The details of the 2022 plan will probably be specified in the next few weeks, showing that our estimates and target price reflect that the stock has upside potential, continues the analyst who monitors the stock.


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