Ferrari (NYSE:RACE) Upgraded to Strong-Buy From Zacks
$RACE
Zacks Investment Research upgraded shares of Ferrari (NYSE:RACE) from a hold rating to a strong-buy rating in a research note issued to investors Tuesday morning.
They currently have a 47.00/share price target.
The statement from Zacks: “Ferrari N.V. is engaged in designing, manufacturing and selling sports cars. Its products include sports car models consists of 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A as well as two grand tourer (GT) cars: California T and FF. The Company also produces a limited edition supercar, LaFerrari and limited series and 1-off cars. It operates primarily in Europe, the Middle East, India, Africa, Americas, Greater China and Rest of Asia-Pacific region. Ferrari N.V. is headquartered in Maranello, Italy. “
Several other brokerages have commented on Ferrari recently.
Morgan Stanley initiated coverage on shares of Ferrari in a report on Monday, 7 December. They set an overweight rating and a 56.00 target price on the stock.
Citigroup Inc. initiated coverage on shares of Ferrari in a research note on Wednesday, 20 January. They issued a neutral rating and a 37.00 price target on the stock.
Banca Akros initiated coverage on shares of Ferrari in a research note on Thursday, 18 February. They issued a buy rating on the stock.
Barclays initiated coverage on shares of Ferrari in a research note on Wednesday, 20 January. They issued a hold rating on the stock.
Bank of America Merrill Lynch reissued a buy rating and issued a 56.00 price objective on shares of Ferrari in a research note on Friday, 5 February.
Two investment analysts have rated the stock with a sell rating, 3 have given a hold rating, 4 have issued a buy rating and 1 has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of 49.75/share.
Shares of Ferrari opened at 42.1 Wednesday.
Ferrari’s trading range since its October 2015 IPO is 31.63-60.97. The firm’s 50-Day MA is 39.51 and its 200-Day MA is 44.56.
The market cap is $7.84-B and a PE/Ratio is 24.38.
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| NYSE:RACE | 42.48 | 30 Mar-2016 | 0.96 | 42.1 | 42.5 | 41.92 | 373,135 |
| HeffX-LTN Analysis for RACE: | Overall | Short | Intermediate | Long |
| Neutral (0.15) | Neutral (0.17) | Bullish (0.25) | Neutral (0.05) |
Stay tuned…
HeffX-LTN
Paul Ebeling
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