Ferrari's (RACE) Q2 should deliver further sequential acceleration, along with an expected 2026 guidance upgrade, indicating a stronger-than-expected second half performance ahead of a "balanced year" guidance, UBS Securities said Thursday.
Early signs of AI-driven wealth creation could support demand for luxury products in the US and unlock new growth opportunities in other regions, driving further re-rating even against a backdrop of broader sector recovery, according to the note.
UBS forecasts group organic sales growth of 6% in Q2, with its core Cars & Spare Parts segment up 5%, driven by positive price mix and robust personalization trends.
The brokerage said it expects investors to focus on the order book commentary, recent developments in residual values, the impact of the Middle East conflict on operations and opportunities to recapture any growth shortfall, visibility on F80 quarterly deliveries, and any changes in personalization trends.
UBS kept a buy rating on Ferrari and raised the price target to $497 from $483.
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