Ferrari runs, analysts say to buy in view of the new plan

(Il Sole 24 Ore Radiocor) - Purchases on Ferrari in Piazza Affari (FTSE MIB ), where the shares of the Prancing Horse put in the best performance among the Milanese blue chips. The shares benefited from the positive judgement of analysts: Mediobanca upgraded its recommendation on the stock to 'outperform' from the previous 'neutral', raising the target price to EUR 486 from EUR 430, while Berenberg initiated coverage with a 'buy' rating.

The experts at Piazzetta Cuccia, in particular, focus on the capital markets day set for 9 October, when Ferrari is expected to "present the strategic plan for the period 2026-2030". "After achieving the targets of the previous plan to 2026 two years ahead of schedule," reads a report, "we expect Ferrari to provide guidance that includes average annual growth in creditability of 12% about, which, in our view, leaves room for further upward revisions. Driving the outlook for margins will be the expected launch of the F80 supercar, but according to Mediobanca there will also be the launch of 14-16 new models and the potential addition of a new segment to the product portfolio. "In this context," Mediobanca further writes, "we expect Ferrari to significantly increase the shareholder remuneration policy" and provide new details on the Hypersail project, the prototype of the next-generation sailing boat with the group's brand name. "We appreciate the visibility" on the company's results "in the next two years, supported by the introduction of the new F80 and the limited exposure to the volatile Chinese market," they conclude from Piazzetta Cuccia. "In the short term, we see room for the possible overshooting of the 2025 guidance and the potential launch of the new electric model.