Ferrari: Invest Securities still a seller, but ups TP

(CercleFinance.com) - Invest Securities maintains its "sell" rating on Ferrari shares, despite increasing its target price for them from 184 euros to 215 euros, due to more favourable market parameters having is its EPS estimates for 2022/23/24 by +2%/+7%/+2%.


The broker said that the group's preliminary results had a "hat-trick" effect on the stock, although the meeting that followed the publication seems unlikely to generate unbridled enthusiasm from analysts.

It adds that Italian luxury sports car manufacturer's stock still has downside potential of at least 10% and that it is trading at multiples that remain still high compared to their 5-year average.


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