-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We lower our 12-month price target by $40 to $350, based on a 2027 P/E of 28.5x, a justified discount to RACE's 10-year average forward P/E multiple of 40.6x. We maintain our adjusted EPS estimates of EUR9.70 for 2026 and EUR10.50 for 2027. Following Ferrari's disappointing Q1 results, we are lowering our price target and maintaining our Hold rating. The company's Q1 earnings shortfall was driven by weaker-than-expected margins and it maintained full-year guidance. The miss was uncharacteristic for a company with one of the strongest earnings track records in the industry. In our view, RACE's lack of vehicle sales growth (-4.4% in Q1) continues to present a challenge to margins given the high fixed cost nature of auto manufacturing. Moreover, we continue to have doubts longer-term regarding its planned 2030 portfolio pivot into electric and hybrid vehicles, and view the stock's risk/reward potential as balanced at current levels.