Ferrari in the pits, analysts cut target price ahead of accounts

(Il Sole 24 Ore Radiocor) - A colourless session for the stock of Ferrari, which has been subject to a series of cuts by several analysts. In detail,Jefferies cut the target price to $362 from $401 previously, confirming the 'hold' rating. For the experts, 'the anticipated concentration of more complex deliveries is likely to keep the stock's valuation under pressure ahead of the release of full-year results on 10 February (and the setting of guidance for 2026)'. Moreover, the share valuation 'is likely to remain under pressure in the short term. The decline in the group's price-to-earnings ratio from its 2026 peak of 46.3 times (towards the end of February last year) to the current 32.5x (consensus) is unlikely to provide sufficient positive impact at a time when earnings revisions will keep the debate among investors on cautious positions,' the analysts further write.

Intermonte focuses on forecasts ahead of the release of financial results on 10 February: "the fourth quarter will see a sequential slowdown due to a difficult basis of comparison, positive mix but less strong than previous quarters," write the experts, who point out that 2026 estimates have "been revised downwards mid-single digit in recent months". Intermonte, which has an 'Outperform' rating on the stock, lowered its target price to $420 from the previous $430.

Deutsche Bank is also cautious about expectations for the fourth quarter: 'we expect a year-on-year decline in deliveries in Q4 2025, which will consequently result in lower volumes for the whole of 2025,' the experts write. In addition, "we believe that the launch of several new models may put pressure on the cost structure until deliveries start in Q1 2026," they add. Db cut its price target on the stock to $450 from the previous $460. Ubs also reduced its target price to $555 from the previous $563.