Ferrari: Invest Securities raises target price
(CercleFinance.com) - Invest Securities maintains its "buy" rating on the Ferrari share, which remains a best pick, raising its corresponding target price from 145 euros to 166 euros, after a publication that confirms the acceleration of deliveries, which exceed the broker's estimates.
Despite slightly negative mix impacts and lower Maserati engine sales, Q2 revenue rose by 8.6% which is 6.8%, above the "historic" pace of +3%, the analyst notes.
The broker adds that the Italian sports car maker has increased its EBITA margin to 24.3%, and that its EBITDA margin of 31.9% is moving towards the group's target of 38% set for 2022.
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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.
Despite slightly negative mix impacts and lower Maserati engine sales, Q2 revenue rose by 8.6% which is 6.8%, above the "historic" pace of +3%, the analyst notes.
The broker adds that the Italian sports car maker has increased its EBITA margin to 24.3%, and that its EBITDA margin of 31.9% is moving towards the group's target of 38% set for 2022.
Copyright (c) 2019 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.