Ferrari Is Safe Haven Amid Unattractive Auto Market -- Market Talk

Dow Jones11-05 21:16

1316 GMT - Ferrari remains a rare place to hide out for investors even though some 3Q figures came short of expectations, RBC Capital Markets analysts write in a research note. Quarterly sales rose 7% to 1.64 billion euros, but missed consensus of nearly 1.66 billion euros, the analysts note. Adjusted Ebitda rose to 638 million euros from 595 million euros, also below consensus of 645.70 million euros. However, industrial free cash flow of 364 million euros beat consensus of 345 million euros, the analysts say. Ferrari shares trade 3.9% lower at 420.80 euros. (mauro.orru@wsj.com)

(END) Dow Jones Newswires

November 05, 2024 08:16 ET (13:16 GMT)

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