Ferrari (NYSE:RACE) Price Target 56/Share at Morgan Stanley
Ferrari NV (NYSE:RACE) had its price target lifted by Morgan Stanley from 54.00 to 56.00 in a research note published on Wednesday, StockTargetPrices.com reports. Morgan Stanley currently has an overweight rating on the stock.
The firm has a 50-Day MA of 44.16 and a 200-Day MA of 41.97, and a market cap of $9.14-Band a P/E ratio of 25.29.
The shares have a 52 wk trading average of low of 31.66 – 60.97.
Several large investors have recently made changes to their positions in RACE.
Baker Ellis Asset Management LLC purchased a new stake in shares of Ferrari NV during Q-1 valued at about $309,000.
JPMorgan Chase & Co. raised its stake in shares of Ferrari NV by 13,191.4% Q-1. JPMorgan Chase & Co. now owns 663,904 shares of the company’s stock valued at $27,684,000 after buying an additional 658,909 shares in Q-2.
Exane Derivatives purchased a new stake in shares of Ferrari NV during Q-1 valued at about $1,301,000.
Aperio Group LLC purchased a new stake in shares of Ferrari NV during the first quarter valued at about $3,000,000.
Carroll Financial Associates Inc. purchased a new stake in shares of Ferrari NV during Q-1 valued at about $360,000.
A number of other equities analysts have also recently weighed in on RACE.
Zacks Investment Research raised Ferrari NV from a hold rating to a strong-buy rating and set a 51.00 price target on the stock in a research note on Thursday, May 5th.
JPMorgan Chase & Co. lifted their price target on Ferrari NV from 46.00 to 51.00 and gave the stock a neutral rating in a research note on Tuesday, on 19 April.
Two analysts have rated the stock with a sell rating, 5 have given a Hold rating and 4 have issued a Buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of 49.57.
RACE 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 9 sports car models, including 7 sports cars, plus Special Limited Editions: 458 Italia, 488 GTB, 458 Spyder, 488 Spyder, F12 Berlinetta, 458 Speciale and 458 Speciale A, as well as 2 grand tourer (GT) cars: California T and FF.
|NYSE:RACE||48.66||18 August 2016||0.28||48.06||48.66||47.96||339,600|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Bullish (0.32)||Very Bullish (0.60)||Neutral (0.21)||Neutral (0.15)|
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