UBS Bullish Ferrari (NYSE:RACE) Ups Price Target

UBS Bullish Ferrari (NYSE:RACE) Ups Price Target

UBS Bullish Ferrari (NYSE:RACE) Ups Price Target

$RACE, $UBS

UBS (NYSE:UBS) analysts reiterated its Buy rating on Ferrari (NYSE:RACE), and raised the price target to 50.00 from 48.00, following the company’s Q-1 earnings report. Monday

UBS Analyst Michael Binetti noted: “Despite beating Q-1 estimates and raising 2016 guidance, RACE’s stock has pulled back slightly due to: 1) a +7% stock run over the past month—suggesting that investors anticipated a guidance increase; and 2) the view that Q-1 was boosted by limited run Special Car sales that will be tough to sustain through 2016 and 2017. Q-2 revenue & EBITDA may indeed be pressured from a lower mix of V12 units—and we’re trimming our Q-2 estimate EBITDA accordingly (to €193-M from €203-M).

That said, we are raising our 2016 estimate to €805-M from €775-M based on several emerging 2-H tailwinds: 1) Accelerating TDF sales; 2) 3Q GTC4 Lusso launch; 3) Accelerating engine sales for Maserati Levante (forecasting +45% in 2-H Vs +5% in 1-H), 4) a Y-Y lift in personalization (TDF was designed to drive personalization above RACE’s 15% avgerage); and 5) €40-50-M in EBIT FX tailwinds in 2-H.”

For an analyst ratings summary and ratings history on Ferrari click here.

For more ratings news on Ferrari click here.

The 1yr consensus price target is 49.49 against a trading range of 31.66 -60.97

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 42.93 5 May-2016 -1.00 43.79 43.79 42.57 682,000
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Neutral (0.05) Neutral (0.19) Bearish (-0.25) Neutral (0.22)

Stay tuned…

Paul Ebeling

 

 

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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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