Ferrari (NYSE:RACE) Stock Taps at All-time Highs
Ferrari (NYSE:RACE), the Italian luxury Supercar maker, will report Q-3 Y 2017 earnings on 2 November.
As of 30 October, Ferrari stock has risen 5.6% MTD Vs 1.6% gainer in S&P.
Throughout Q-3, Ferrari stock traded on a Bullish note and impressed investors with about 30% returns.
In comparison, the S&P 500 Index saw 4% gains during the Quarter.
US automakers such as General Motors (NYSE:GM) and Ford (NYSE:F) also turned positive in Q-3 2017. GM delivered returns of 15.6%, Ford ended the Quarter with 7% gains.
Fiat Chrysler, released strong Q-3 Y 2017 results on 24 October, and FCA stock rose 5.4% to close at 17.45. Fiat Chrysler stock has risen 92.1% so far in Y 2017. FCA’s performance has been far better than its direct peers.
As of 30 October Ferrari has 2X’d in value with stellar returns of about 100% YTD.
Notably, Ferrari stock is trading higher than all analysts’ targets at 108 (consensus), except HeffX-LTN’s at 132/share
|NYSE:RACE||117.18||30 October 2017||1.59||116.63||117.43||116.4||501,500|
|HeffX-LTN Analysis for RACE:||Overall||Short||Intermediate||Long|
|Bullish (0.36)||Bullish (0.47)||Bullish (0.38)||Bullish (0.25)|