$RACE

 Ferrari N.V. (NYSE/MTA: RACE) announces that under the 2nd tranche of the common share buyback program announced on 1 July 2019 the Company has purchased additional common shares reported in aggregate form, on a daily basis on the Italian Stock Exchange (MTA) and on the NYSE as follows:

Since the announcement of the Second Tranche of the buyback program dated 1 July 2019 till 27 September 2019, the total invested consideration has been:

• Euro 129,902,336.40 for No. 913,955 common shares purchased on the MTA
• USD 25,627,312.92 (EUR 23,248,832.34*) for No. 166,585 common shares purchased on the NYSE…

…resulting in total No. 8,057,574 common shares held in treasury as of 27 September 2019. As of the same date, the Company held 3.13% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.

A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section.

^(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase

Attachment

• FNV Buyback Purchases PR 30.09.2019 (ENG)

Ferrari (RACE) rating Buy  

Ferrari is the Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Neutral to Bearish, overhead resistance is at 158.24 and support at 153.25 as 1 Key indicator is Very Bullish in here. Ferrari finished at 154.09, +2.61 Monday in NY.

Note: Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.” “We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published last month, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback since late July 16 has provided good entry point in here.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame

Stay tuned…

  Aristocrat, brand, Bullish, buy, buyback, Ferrari, program, race, report

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