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Investing.com - Deutsche Bank upgraded Ferrari NV (BIT:RACE) (NYSE:RACE) from Hold to Buy and raised its price target to EUR520.00 from EUR430.00 on Tuesday.
The upgrade comes ahead of Ferrari’s October Capital Markets Day (CMD), which Deutsche Bank expects will unveil ambitious mid-term targets, including adjusted EBIT margins potentially exceeding 30% and a EUR3 billion share buyback representing 4% of market capitalization.
Deutsche Bank believes investor focus will increasingly shift to 2026 and the full impact of the new F80 supercar, which features a significantly higher price point than previous models.
The bank estimates the F80 model alone could generate over EUR450 million in incremental earnings, surpassing the contribution from the outgoing Icona Daytona SP3 model.
Deutsche Bank expects positive news flow from the CMD and consensus earnings upgrades of approximately 5% for 2026, noting that the substantial earnings upside from the F80 is not yet factored into consensus estimates.
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