Analysts’ take on Ferrari stock
According to the latest consensus data compiled by Reuters, 45% of the 11 analysts covering Ferrari (RACE) gave its stock “buy” recommendations. 55% of analysts recommended a “hold,” while none of the analysts gave it a “sell” rating.
Investors should pay attention to popular analysts’ ratings, as they may affect the company’s stock price action. If a popular analyst changes his or her views, significant short-term movement in the stock price could follow.
Good upside potential
As of November 5, Ferrari’s consensus 12-month target price was $141.38, which reflected an upside potential of ~20.2% from its market price of $117.58. 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 still positive on the stock, as the company’s profitability remains strong with its rising shipments. In addition, RACE’s progress towards its 2018 debt position outlook looked impressive in the third quarter.
Please read Market Realist’s series An Investor’s Guide: Is Ferrari Racing on a Rough Road? to learn more about Ferrari’s business overview.