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Fly News Breaks for August 5, 2019
Aug 5, 2019 | 06:55 EDT
Societe Generale analyst Stephen Reitman upgraded Ferrari to Buy from Hold and raised his price target for the shares to $183 from $141. The stock closed Friday down $3.52 to $159.48. Visibility is improving on Ferrari's ability to expand its margins with the hybrid SF90 Stradale coming in the first half of 2020. The car creates an over 40% higher pricing band for Ferrari's series sportscars, Reitman tells investors in a research note. The analyst believes this "go higher" strategy is "clearly preferable" to oversupplying the market with lower priced series cars.
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