In a report released yesterday, Michael Binetti from Credit Suisse maintained a Buy rating on Ferrari (RACE), with a price target of $198.00. The company’s shares closed last Tuesday at $186.43, close to its 52-week high of $189.26.
According to TipRanks.com, Binetti is a 4-star analyst with an average return of 6.8% and a 56.3% success rate. Binetti covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Dick’s Sporting Goods, and Canada Goose Holdings.
Ferrari has an analyst consensus of Strong Buy, with a price target consensus of $197.39, an 8.1% upside from current levels. In a report issued on July 28, Merrill Lynch also maintained a Buy rating on the stock with a $235.00 price target.
The company has a one-year high of $189.26 and a one-year low of $127.73. Currently, Ferrari has an average volume of 211.6K.
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Ferrari NV is a holding company. It manufactures luxury sports cars. The firm’s models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari and the FF four-wheel drive. It participates in car racing such as Formula One. The company was founded by Enzo Anselmo Ferrari in 1939 and is headquartered in Maranello, Italy.