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Saturday, October 16, 2021

Wall Street Analysts Upgrade Ferrari (NYSE:RACE) to ‘Buy’ Ratings


Ferrari (NYSE:RACE) was upgraded by equities researchers at Kepler Capital Markets to a ‘buy‘ rating in a research report issued Thursday.

Several other automotive sector analysts have also weighed in on the company.

One equities research analyst has rated the stock with a sell rating, 3 have issued a hold rating and 11 including us have issued a ‘Buy‘ rating on the company’s stock.

Ferrari stock currently has an average rating of ‘Buy’ and a consensus price target price of 175.80.

JPMorgan Chase & Co. reduced their price objective on Ferrari from 134.00 to 133.00 and set a “neutral” rating for the company in a report Tuesday, 5 May.

Jefferies Financial Group lowered Ferrari from a “hold” rating to an “underperform” rating and set a 108.00 price objective for the company. in a report on Tuesday, 28 April.

Credit Suisse Group reduced their price objective on Ferrari from 205.00 to 198.00 and set an “outperform” rating for the company in a report on Tuesday, 5 May.

CSFB reduced their price objective on Ferrari from 205.00 to 198.00 and set an “outperform” rating for the company in a report on Tuesday, 5 May.

And, Zacks raised Ferrari from a “sell” rating to a “hold” rating in a report on Thursday, 30 April.

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 overall Bullish with a Very Bullish bias, the Key resistance 168.24, and Key support is at 163.50.

Our overall technical outlook is Bullish in here, as all Key indicators are Bullish to Very Bullish as it approaches its all time highs at 179.21 marked on 18 February 2020.

Ferrari (NYSE:RACE) finished Friday at 168.21, -0.37 in NY.

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 have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now. The stock is now considered defensive in the sector.

Have a healthy weekend, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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