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Ferrari: Oddo still a buyer

( - Oddo is maintaining its "outperform" rating on Ferrari shares, along with its target price of 260 euros.

The analyst bases the rating on the release of the brand's long-awaited first SUV, the Purosangue, which he says is a model that lives up to expectations - both from a technical and commercial point of view (record orders), which confirms the broker's opinion that the model should contribute positively both to the group's growth and its margins.

Regarding volumes, the group already announced that it would limit production to 20% of the group's total volumes over the model's life, which should on average represent between 2,000 and 3,000 units. Deliveries of the Purosangue are expected to start in Q2 2023.

With waiting lists of up to 18 months, the company is benefiting from unparalleled visibility, Oddo said. These details underpin its Outperform rating on the stock, along with its target price of 260 euros.

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