Ferrari: Bernstein maintains its 'underperform' rating
(CercleFinance.com) - Sanford C.
Bernstein maintains its "underperform" rating on Ferrari, with a target price of 65 euros, after the Italian sports car maker issued second-quarter results that were "very much as expected."
The broker - which justifies its rating due to the stock's valuation - said that Ferrari's valuation, which has a market cap of 28 billion euros, highlights the huge expectations about growth at the company.
According to Bernstein, investors will learn more about new products, market success and potential complications in September - as Ferrari confirmed that it will be hosting its Capital Markets day on 17 and 18 September.
Anyhow, Ferrari looks to be heading towards much higher volumes, thanks to a forthcoming SUV, the broker wrote in a note.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Bernstein maintains its "underperform" rating on Ferrari, with a target price of 65 euros, after the Italian sports car maker issued second-quarter results that were "very much as expected."
The broker - which justifies its rating due to the stock's valuation - said that Ferrari's valuation, which has a market cap of 28 billion euros, highlights the huge expectations about growth at the company.
According to Bernstein, investors will learn more about new products, market success and potential complications in September - as Ferrari confirmed that it will be hosting its Capital Markets day on 17 and 18 September.
Anyhow, Ferrari looks to be heading towards much higher volumes, thanks to a forthcoming SUV, the broker wrote in a note.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.