Fly News Breaks for July 18, 2019
Jul 18, 2019 | 07:57 EDT
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.
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