Ferrari: Invest Securities raises target price
(CercleFinance.com) - Following Invest Securities' discussions with the group, it appears that Q3 2020 should, unsurprisingly, recover in line with the "tightened" 2020 guidance that the group issued on publishing its H1 2020 results.
The pace of the recovery in production has been confirmed and the solid order book seems to inspire less concern than at the beginning of Q3. The 2022 EBITDA guidance of 1.8 billion euros therefore remains credible, while analysts feel that the 2020 guidance will be confirmed when the group unveils its Q3 results.
The analyst is therefore raising his target price for the share to 205 euros (vs. 177 euros) and confirms his buy rating.
Ferrari therefore remains in the broker's best-pick (IS) list, with a higher upside potential of 31% vs. 13% previously, after the group's H1 results on 4 August.
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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.
The pace of the recovery in production has been confirmed and the solid order book seems to inspire less concern than at the beginning of Q3. The 2022 EBITDA guidance of 1.8 billion euros therefore remains credible, while analysts feel that the 2020 guidance will be confirmed when the group unveils its Q3 results.
The analyst is therefore raising his target price for the share to 205 euros (vs. 177 euros) and confirms his buy rating.
Ferrari therefore remains in the broker's best-pick (IS) list, with a higher upside potential of 31% vs. 13% previously, after the group's H1 results on 4 August.
Copyright (c) 2020 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.