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Ferrari: FY Ebitda target raised.

(CercleFinance.com) - Italian luxury carmaker Ferrari said on Thursday that it was raising its full-year EBITDA target, now aiming for adjusted Ebitda of 1 billion euros in 2017.

The group previously said it was expecting adjusted Ebitda of over 950 million euros this year.

The Maranello-based company announced that it had record third quarter, with adjusted EBITDA up 13% at 266 million euros, and net revenues up 6.7% at 836 million dollars.

Total shipments rose 3.4%, or 68 vehicles units, to 2,046 vehicles over the quarter.

Ferrari shares - listed on the Nasdaq - were down 3% at 116.4 dollars after these results.

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