TOday’s Movers: Ferrari (RACE) Stock Rating Reiterated at Morgan Stanley; $140 Target Price Indicates 1.62 % Potential

October 2, 2018 - By Peter Kolinski

Ferrari N.V. (NYSE:RACE) Logo

Ferrari (RACE) Rating Reaffirmed

Morgan Stanley now has a $140 TP on shares of Ferrari (RACE). The TP gives a potential upside of 1.62 % from the previous close of Ferrari (RACE). This rating was released in analysts report on Tuesday morning.

Ferrari N.V. (NYSE:RACE) Ratings Coverage

Among 3 analysts covering Ferrari N.V. Common Shares (RACE), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Ferrari N.V. Common Shares has $160 highest and $110 lowest target. $140’s average target is 1.62% above currents $137.77 stock price. Ferrari N.V. Common Shares had 5 analyst reports since May 4, 2018 according to SRatingsIntel. The stock of Ferrari N.V. (NYSE:RACE) earned “Outperform” rating by Credit Suisse on Thursday, September 20. Morgan Stanley maintained Ferrari N.V. (NYSE:RACE) on Tuesday, May 22 with “Underweight” rating. Credit Suisse maintained Ferrari N.V. (NYSE:RACE) rating on Friday, May 4. Credit Suisse has “Outperform” rating and $156 target. On Thursday, August 2 the stock rating was upgraded by Morgan Stanley to “Equal-Weight”. The stock of Ferrari N.V. (NYSE:RACE) earned “Buy” rating by HSBC on Wednesday, August 29.

The stock increased 0.63% or $0.86 during the last trading session, reaching $137.77. About 435,740 shares traded. Ferrari N.V. (RACE) has risen 20.78% since October 2, 2017 and is uptrending. It has outperformed by 5.16% the S&P500.

Analysts await Ferrari N.V. (NYSE:RACE) to report earnings on November, 1. They expect $0.89 earnings per share, up 2.30 % or $0.02 from last year’s $0.87 per share. RACE’s profit will be $167.90 million for 38.70 P/E if the $0.89 EPS becomes a reality. After $1.00 actual earnings per share reported by Ferrari N.V. for the previous quarter, Wall Street now forecasts -11.00 % negative EPS growth.

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company has market cap of $25.99 billion. The firm offers seven models, including four sports cars that include 488 GTB, 488 Spider, F12berlinetta, and special series F12tfd; and three GT cars, which comprise California T, GTC4Lusso, and GTC4Lusso T. It has a 38.53 P/E ratio. It also provides LaFerrari Aperta, a limited edition supercar; Fuoriserie, a very limited editions series; one-off cars; F60 America, a V12 open air roadster; and Ferrari J50, a two-seater mid-rear-engined roadster.

More notable recent Ferrari N.V. (NYSE:RACE) news were published by: Livetradingnews.com which released: “F1: Ferrari (NYSE:RACE) to Attack from 2nd Row at Sochi” on September 29, 2018, also Livetradingnews.com with their article: “Ferrari’s (NYSE:RACE) ‘Icona’ Project Focused Boosting Profit Margins” published on September 17, 2018, Livetradingnews.com published: “Ferrari (NYSE:RACE) Has Big Plans for Its Future” on September 26, 2018. More interesting news about Ferrari N.V. (NYSE:RACE) were released by: Livetradingnews.com and their article: “Ferrari’s (NYSE:RACE) CEO, “We Will Work to Double Profits by 2022”” published on September 20, 2018 as well as Livetradingnews.com‘s news article titled: “F1: Ferrari’s (NYSE:RACE) Sebastian Finished 3rd, Kimi 4th at Sochi” with publication date: September 30, 2018.

Ferrari N.V. (NYSE:RACE) Ratings Chart

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