In a report released yesterday, Adam Jonas from Morgan Stanley maintained a Buy rating on Ferrari (RACE – Research Report), with a price target of $400.00. The company’s shares closed yesterday at $410.27.
Jonas covers the Consumer Cyclical sector, focusing on stocks such as Tesla, Ford Motor, and Ferrari. According to TipRanks, Jonas has an average return of 5.5% and a 50.41% success rate on recommended stocks.
In addition to Morgan Stanley, Ferrari also received a Buy from Evercore ISI’s Michael Binetti in a report issued on April 21. However, yesterday, Jefferies maintained a Hold rating on Ferrari (NYSE: RACE).
RACE market cap is currently $99.42B and has a P/E ratio of 54.93.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RACE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ferrari (RACE) Company Description:
Italy-based Ferrari NV designs, manufactures and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars. It participates in car racing such as Formula One.
