Ferrari: share price advances with RBC comments

(CercleFinance.com) - On Monday morning, Ferrari shares were one of the biggest risers on the Milan Stock Exchange's FTSE MIB index, thanks to a positive note from analysts at RBC.


In a study released this morning, Royal Bank of Canada said it had raised its target price for the stock from E380 to E463, after a recent meeting with the group's management.

The Canadian broker, which has an "outperform" rating on the stock, emphasizes the opportunity represented by electric vehicles for the Maranello-based group's continued growth in deliveries and sales.

The broker also highlights the potential offered by vehicle personalisation, a trend that enables the company to improve margins without having to increase volumes.

In late morning trading, the luxury carmaker's share price was up 0.9%, while at the same time, the FTSE MIB index was up 0.3%


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