(News Bulletin 247) – Royal Bank of Canada announced on Tuesday that it has raised its price target on Ferrari from 283 to 321 euros while maintaining an ‘outperformance’ opinion on the stock.
The broker, which notes that the first quarter results have largely exceeded analysts’ expectations, says it does not believe in the cautious forecasts communicated by the Maranello group, which has contented itself with confirming its annual objectives despite the launch of the Purosangue models. and Daytona.
The broker also highlights the strong demand enjoyed by the Italian manufacturer’s electric vehicles, which leads it to revise upwards its margin forecasts in the field.
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