Ferrari: stock up as RBC makes it a best pick

(CercleFinance.com) - Ferrari shares are up on the Milan Stock Exchange on Friday following favourable comments from analysts at RBC, who made the Maranello-based firm their best pick in the European automotive sector.


At 2.20pm, the Italian sports car maker's shares were up over 1%, just outperforming the FTSE MIB index, which was up 0.8% at the same time.

In their morning comments, RBC said it still prefers Ferrari shares, expecting the group to have a "solid" year thanks to the launch of the new Daytona and Purosangue models.

Analysts expect its revenues to increase by 14% in 2023, thanks to a slight increase in volumes (+1%) but above all price hikes (+13%).

It therefore expects underlying EBITDA to rise 21% this year.

Alongside Ferrari, RBC analysts also like the Daimler Trucks stock in the broader sector.


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