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RACE

Ferrari

$53.32

-0.52 (-0.97%)

07:28
10/12/16
10/12
07:28
10/12/16
07:28

Ferrari price target raised to $60 from $53 at UBS

UBS analyst Michael Binetti raised his price target on Ferrari to $60 from $53 and raised Q3 estimates based on a strong pipeline update at the recent Paris auto show. The analyst cited the new Aperta supercar launch, a premium priced limited series for next year's 70th anniversary, and the long 488 wait list. Binetti feels the company has pricing power and views the potential for price increases to be a key source of EBITDA upside. Binetti reiterated his Buy rating on Ferrari shares.

RACE Ferrari
$53.32

-0.52 (-0.97%)

12/07/15
12/07/15
INITIATION

On the Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Advanced Accelerator (AAAP) initiated with an Outperform at JMP Securities...Akebia (AKBA) initiated with a Buy at H.C. Wainwright...CalAmp (CAMP) initiated with a Buy at Chardan...Emerge Energy (EMES) initiated with a Buy at DA Davidson...Energous (WATT) initiated with a Buy at Ladenburg...Enviva (EVA) coverage resumed with an Outperform at RBC Capital...Equity Bancshares (EQBK) initiated with an Overweight at Stephens...Fairmount Santrol (FMSA) initiated with a Buy at DA Davidson...Ferrari (RACE) initiated with an Overweight at Morgan Stanley...Match Group (MTCH) initiated with an Outperform at Wells Fargo...Motorola Solutions (MSI) initiated with a Hold at Jefferies...Potash (POT) reinstated with an Underperform at BofA/Merrill...Rose Rock Midstream (RRMS) initiated with a Market Perform at Wells Fargo...STORE Capital (STOR) initiated with an Overweight at Capital One...SemGroup (SEMG) initiated with an Outperform at Wells Fargo...Sorrento Therapeutics (SRNE) assumed with a Buy at H.C. Wainwright...Teva (TEVA) initiated with a Buy at Mizuho...U.S. Silica (SLCA) initiated with a Buy at DA Davidson...Voyager Therapeutics (VYGR) initiated with an Outperform at Cowen...Voyager Therapeutics initiated with an Overweight at Piper Jaffray...Wave Life Sciences (WVE) initiated with a Buy at Jefferies.
01/20/16
SBSH
01/20/16
INITIATION
SBSH
Neutral
Ferrari initiated with a Neutral at Citi
Citi analyst Michael Tyndall started Ferrari with a Hold rating and price target of EUR 37.
01/29/16
UBSW
01/29/16
NO CHANGE
Target $52
UBSW
Buy
Ferrari price target lowered to $52 from $60 at UBS
UBS lowered its price target on Ferrari to $52 from $60, citing current market volatility, decelerating spending among high -income consumers, foreign exchange headwinds and technical overhangs. UBS believes Q4 results could ease investors concerns and thus maintains its Buy rating on Ferrari shares.
02/03/16
MSCO
02/03/16
NO CHANGE
Target $56
MSCO
Overweight
Ferrari named a Top Pick in US autos at Morgan Stanley
Morgan Stanley analyst Adam Jones named Ferrari a Top Pick in US autos and reiterated his Overweight rating and $56 price target on shares. Jones said Q4 revenues were modestly below expectations while FY16 EBITDA outlook was approximately 5% below his forecast. Despite the soft guidance, the analyst said his thesis remains firmly intact and notes Ferrari controls its own destiny more than any other auto company with a highly defensible business, modest top line growth prospects, and limited exposure to China.

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