Ferrari: Credit Suisse initiates coverage with buy

(CercleFinance.com) - Credit Suisse has begun monitoring the Ferrari stock with buy rating ("outperform"), with analysts hailing "a pinnacle luxury brand in the fast lane".


Alongside this positive rating, the broker has set a target price at 150 dollars for the Ferrari share, which is listed in New York; this is the equivalent of 126 euros at current exchange rates for the share that is listed in Milan: it therefore has upside potential of around 25%.

According to a research report, thanks to a one-to-two-year waiting list for its new models, Ferrari "has more predictable revenues than almost any luxury brand," especially as 60% of buyers already own a Ferrari.

The elite Italian car maker, a subsidiary of FCA, is therefore expected to report average annual sales growth of 9% p.a. until 2022, in particular thanks to the launch of hybrid models, which in addition will be sold at prices that are 15% higher.


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