Ferrari shares pop as luxury carmaker hikes full-year guidance
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Ferrari a 'prime stock to own' - Barclays
August 2, 2024 9:43 AM EDTBarclays upgraded Ferrari N.V (NYSE: RACE) to Overweight following the company's strong Q2 performance, highlighting it as a "prime stock to own" after the strong beat.
This decision comes after Ferrari beat EBIT consensus by 7% on August 1, achieving a record 29.9% margin and raising its FY24 guidance to over 27.5% from the previous 27%.
The bank notes that in the first half of 2024,... More
Ferrari (RACE) PT Raised to $475 at Evercore ISI
August 2, 2024 5:04 AM EDTEvercore ISI analyst Michael Binetti raised the price target on Ferrari (NYSE: RACE) to $475.00 (from $465.00) while maintaining a Outperform rating.
The analyst comments "Bottom Line: While our 2Q preview (link here) anticipated another quarter of tougher margin flow-through (which happened), every... More
Ferrari N.V (RACE) Tops Q2 EPS by 6c, provides Guidance
August 1, 2024 6:58 AM EDTFerrari N.V (NYSE: RACE) reported Q2 EPS of EUR2.29, EUR0.06 better than the analyst estimate of EUR2.23. Revenue for the quarter came in at EUR1.71 billion versus the consensus estimate of EUR1.76 billion.
Guidance:
FY 2024:
Net Revenue: > 6.55 billion, versus the consensus of 6.524... More
