Ferrari NV (RACE) Coverage Initiated at Berenberg Bank
Equities researchers at Berenberg Bank started coverage on shares of Ferrari NV (NYSE:RACE) in a research report issued on Tuesday. The firm set a “buy” rating on the stock.
A number of other research analysts have also recently weighed in on the stock. Societe Generale assumed coverage on shares of Ferrari NV in a research note on Thursday, October 13th. They set a “sell” rating and a $45.00 target price on the stock. Morgan Stanley lifted their price target on shares of Ferrari NV from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Ferrari NV presently has a consensus rating of “Hold” and an average price target of $48.74.
Shares of Ferrari NV (NYSE:RACE) opened at 53.70 on Tuesday. The stock has a market capitalization of $10.15 billion and a price-to-earnings ratio of 27.71. The stock’s 50 day moving average is $53.08 and its 200-day moving average is $47.12. Ferrari NV has a 12-month low of $31.66 and a 12-month high of $54.99.
About Ferrari NV
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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