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Investing.com - Bernstein SocGen Group has lowered its price target on Ferrari (NYSE:RACE) to $475.00 from $554.00 while maintaining an Outperform rating. The stock, currently trading at $407.38, has experienced a significant 18.7% decline over the past week. Despite recent volatility, InvestingPro data shows Ferrari maintains a perfect Piotroski Score of 9, indicating strong financial health.
The adjustment follows Ferrari’s Capital Markets Day held on October 9, where the company revealed its 2024-2030 financial objectives. Ferrari announced targets of 5% compound annual revenue growth between 2024 and 2030, below consensus expectations of approximately 7%.
Ferrari also guided for an adjusted EBIT margin of over 30% by 2030, falling short of market expectations of around 32% or higher. The company had already achieved a 30.5% margin in the first half of 2025.
During the event, Ferrari disclosed it had increased its number of active clients by 20% compared to 2022, reaching 90,000. The company defines active clients as individuals who have purchased a new or used Ferrari within the past five years. Ferrari also added more than 32,300 new-to-brand clients since 2022.
The two-day event, held October 8-9 at Ferrari’s Maranello headquarters, included briefings on the company’s new BEV drivetrain technology for its forthcoming Elettrica electric vehicle, attracting approximately 300 investors, analysts, and journalists.
In other recent news, Ferrari has raised its financial guidance for 2025, now expecting net revenues of at least €7.1 billion, surpassing its previous forecast. The company also anticipates an adjusted EBITDA of at least €2.72 billion, exceeding its 2026 targets ahead of schedule. Ferrari aims for an EBIT margin of at least 29.0%, resulting in EBIT of at least €2.06 billion and earnings per share of at least €8.80. Additionally, HSBC has upgraded Ferrari stock to Buy, with a new price target of EUR470.00, citing a strong growth outlook through 2030. The upgrade is supported by expected volume growth and increased personalization opportunities, partly due to a new paint shop. Berenberg has also initiated coverage on Ferrari with a Buy rating and a price target of EUR484.00, highlighting the automaker’s strong brand heritage and pricing power. The firm points to Ferrari’s potential for attractive returns driven by price/mix-driven earnings and free cash flow growth. Meanwhile, Jefferies maintains a Hold rating on Ferrari, with a price target of EUR420.00, amidst a broader luxury sector reassessment. These developments reflect Ferrari’s strategic adjustments and analysts’ varied perspectives on its future performance.
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