Ferrari (NYSE:RACE) had its price objective raised by Bank of America from 265.00 to 270.00 in a report issued Tuesday. It currently has a buy rating on the stock.
A number of other brokerages have also recently issued reports on RACE. UBS Group upped their price objective on shares of Ferrari from 209.00 to 212.00 and gave the stock a buy rating in a report Wednesday, 14 October Credit Suisse Group upped their price target on shares of Ferrari from 198.00 to $40.00 and gave the company an outperform rating in a report on Wednesday, 4 November. JPMorgan Chase & Co. upped their price target on shares of Ferrari from 151.00 to 180.00 and gave the company a neutral rating in a report on Thursday, 22 October and Morgan Stanley upped their price target on shares of Ferrari from 180.00 to 265.00 and gave the company an overweight rating in a report on Wednesday, 12 August. 2 research analysts have rated the stock with a sell rating, 2 have assigned a hold rating and 10 have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of 207.70.
F1 now has its final short break of the year before the Bahrain Grand Prix kicks off the final season-ending 3X-header of Y 2020.
Ferrari is The Aristocrat of the automotive sector.
Our overall technical outlook is Very Bullish, a Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November.
Ferrari finished trading Wednesday at 214.03 in NY. It’s all time high was marked at 215.48 marked intraday Wednesday, 18 November.
All technical indicators are Very Bullish there is Strong support at 199.16, there is no overhead resistance.
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, Morgan Stanley and Bank of America. UBS is now calling the stock at 365.
Ferrari will continue to create value in the long term as it becomes the world’s 1st Super Luxury brand.
Ferrari is a quality 1st long term luxury products investment, BAML raised it call to 270 long term.
Thursday, 19 November I am raising my long term target to 375, a Strong Bull call, the strongest on the Street.
Ferrari has an average rating of Buy and a consensus target price at 211.95.
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I am calling it 375 long term , the Top on the Street, and adjusting it to 230/share short term.
A number of large investors have recently bought shares of RACE. And there is no insider selling.
The stock is now considered defensive in the sector.
Have a healthy day, Keep the Faith!
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