Ferrari on the rebound, analysts are positive despite the risks of the new Light
On the eve of the unveiling of its first electric model, the Maranello company left 8.3% on the ground
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(Il Sole 24 Ore Radiocor) - Ferrari tries to regain ground after its slide on the eve of the trading session, thanks to the good momentum of the auto sector driven by the rally of Volvo Car . The shares of the Cavallino are thus advancing after the -8.3% drop on the eve of the presentation of the new Ferrari Luce electric car.
"We believe that the Ferrari Luce represents one of the most risky projects in the brand's recent history, in light of the combination of engine, design and customer target," note the Intermonte analysts. The experts note in particular that the design, "although criticised", appears "consistent with the objective of positioning the model as a complement to the current range: less aggressive lines favour a more 'everyday' use and broaden the potential pool of new customers". On the other hand, the 'main element of attention' is 'the role of the model in the portfolio' because 'if it is an incremental addition, the risk will be relatively contained', whereas 'should it be called upon to replace the contribution of outgoing models, the risk profile would increase significantly'. Sim's 'outperform' rating with a monstrous target price of EUR 417, "remains supported by confidence in management's ability to effectively manage this project".
Yesterday's performance, Banca Akros notes, reflects 'disappointment' over the design of the new model, although analysts explain that 'the car looks better in person' and predict that 'it will increase its desirability once tested on the road or track'. "Despite the divisive design we believe Ferrari will find the right audience for the Luce", for which "the best candidates" are "new customers and the Asia-Pacific region". Akros therefore confirms the 'neutral' rating and the target at €320.
