Morgan Stanley Reiterates Overweight Rating on Ferrari (RACE), Top Pick, $300 PT, 'Greater Capital Efficiency'

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $300.00 price target on Ferrari (NYSE: RACE).

The analyst comments "We remind investors that Ferrari’s FY26 targets include little, if any, contribution from the pure EV business while its FCFforecast includes significant costs to prepare for EV capability including in-sourcing e-motor, inverter, battery module, and an all new assembly line. While details were not shared, we believe an all electricFerrari can achieve margins potentially in excess of ICE margins when considering price point, lower COGS,and other factors.Ferrari targets 40% BEV penetration by 2030 vs our penetration forecast of 31%. Ferrari shares trade at 12x EBITDA and 22x PE (non discounted) on the midpoint FY26 forecasts.For one of the most exclusive luxury brands on earth with 2year order visibility, cycle resident model,and double-digit profit growth, we reiterate RACE as our top pick in US autos."

For an analyst ratings summary and ratings history on Ferrari click here. For more ratings news on Ferrari click here.

Shares of Ferrari closed at $176.87 yesterday.

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