BofA Merrill Lynch analyst John Murphy raised his price target on Ferrari shares to $225 from $150, stating that he believes the company's growth story is "far from exhausted" despite the nearly 70% year-to-date advance in the stock. He thinks the company's upcoming Q2 report is likely to be solid and believes Ferrari is likely to raise its outlook this quarter or next. He also thinks Ferrari could hit its 2020 EBITDA and margin targets a year early in 2019, added Murphy, who keeps a Buy a rating on the stock and reiterated it as one of the firm's US1 picks.

Evercore ISI raised the firm's price target on Ferrari to $465 from $430 and keeps an Outperform rating on the shares. The firm, which contends that Q1 should "showcase a solid start" to 2024, maintains an above-consensus Q1 EBITDA estimate of EUR 596M and FY24 EBITDA estimate of EUR2.56B, the analyst tells investors in an earnings preview note.