Analysts on Ferrari stock
According to the latest consensus data compiled by Reuters, 55% of analysts covering Ferrari (RACE) stock have given it a “buy” recommendation. Another 36% have recommended a “hold.” One analyst (or 9%) expects the stock to underperform the market and has given it a “sell” rating.
Investors should pay attention to popular analysts’ ratings since they could affect the company’s stock. If a popular analyst changes his or her views, significant short-term movement in the stock price could follow.
As of August 3, Ferrari’s consensus 12-month target price was $139.39, which reflected an upside potential of 12% from its market price of $124.84. Ferrari stock registered stellar gains of 80.3% in 2017. It posted its all-time high of $149.72 on June 15, 2018.
Most Wall Street analysts are positive on the stock since Ferrari’s profitability continues to remain strong with rising shipments.
Be sure to read Market Realist’s series An Investor’s Guide: Is Ferrari Racing on a Rough Road? to learn more about Ferrari’s business.