Movement Alert｜Ferrari NV Rises 3.13% in Regular Trading, Multiple Banks Raise Target Prices Following Strong Q2 Earnings Beat

Market Focus08-03

On August 3, Ferrari NV rose 3.13% in regular trading, trading at approximately $407.28/share, with turnover of $30.08 million. The rally was driven by a cluster of analyst target price upgrades coupled with the tailwind from a strong Q2 earnings report.

On the news front, Citigroup raised its Ferrari target price from €320 to €347, Berenberg raised from €381 to €384, and Jefferies lifted its target from €380 to €400. UBS maintained its Buy rating while making a minor adjustment to $490 from $497. These upgrades followed Ferrari's Q2 results released on July 30, which significantly beat consensus: quarterly revenue came in at €1.94 billion, up approximately 8% year-over-year versus estimates of €1.87 billion, while EPS of $3.05 topped the $2.83 estimate by 7.8%. The company simultaneously raised full-year guidance, projecting revenue of approximately €7.6 billion and adjusted EPS of at least €9.68, both above prior targets and analyst expectations.

Additionally, Ferrari's first pure-electric model Luce achieved its annual sales target within just two months of launch, with production through 2027 fully sold out, underscoring robust global demand momentum.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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