Ferrari shares pop as luxury carmaker hikes full-year guidance

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Go back to Ferrari shares pop as luxury carmaker hikes full-year guidance

Ferrari a 'prime stock to own' - Barclays

August 2, 2024 9:43 AM EDT

Barclays 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 EDT

Evercore 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 EDT

Ferrari 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