Ferrari (NYSE:RACE) Price Target 56/Share at Morgan Stanley

Ferrari (NYSE:RACE) Price Target 56/Share at Morgan Stanley

Ferrari (NYSE:RACE) Price Target 56/Share at Morgan Stanley

$RACE

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.

Vetr cut Ferrari NV from a buy rating to a hold rating and set a 45.17 price target on the stock. in a research note on Monday, May 2nd.

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.

Symbol Last Trade Date Change Open High Low Volume
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)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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