Ferrari: UBS revises its price target upwards


(CercleFinance.com) – UBS announced on Tuesday that it was maintaining its buy recommendation on Ferrari, but having revised its price target upwards, from 380 to 417 dollars, which represents an upside potential of more than 16%.

In a vast study devoted to the luxury sector, the broker highlights that the title of the sports car manufacturer represents a key defensive choice in an uncertain economic environment and a luxury market that is losing momentum.

The broker highlights the strong exposure of the Maranello group to the ultra-rich segment and the visibility ensured by its record order book, which already guarantees activity for the 2025 financial year.

After a historic year in 2023, UBS declares that it expects more ‘normalized’ growth, of around 10% excluding currency effects in 2024, while highlighting its acceleration vis-à-vis the rest of the banking sector. luxury.

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