Ferrari: shares rise for third day in row after new upgrade

(CercleFinance.com) - Ferrari shares rose sharply for the third day in a row on Thursday, after benefiting from another upgrade from analysts in the wake of its better-than-expected quarterly results on Tuesday.


Ferrari shares were up 1.5% at 126.1 euros, after Morgan Stanley raised its rating on the stock from "equal weight" to "overweight," citing increased earnings forecasts after the company's first-quarter beat.

Morgan Stanley's move followed an upgrade from UBS yesterday, which already lifted Ferrari shares by 2.9%.

The stock has risen by about 7% since Monday.

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