UBS issued a report on Ferrari (NYSE:RACE), bumping its target to $60.00 earlier today
- Updated: October 12, 2016
UBS upped the price target of Ferrari (NYSE:RACE) to $60.00 stating a potential upside of 0.13%.
Previously on 8/17/2016, Morgan Stanley released a statement about Ferrari (NYSE:RACE) increased the target price from $54.00 to $56.00. At the time, this indicated a possible upside of 0.17%.
Yesterday Ferrari (NYSE:RACE) traded -0.54% lower at $53.32. Ferrari’s 50-day average is $49.80 and its two hundred day average is $44.87. With the last close up 18.17% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same period. Trading volume was down over the average, with 129,747 shares of RACE changing hands under the typical 450,217
With a total market value of $0, Ferrari has PE ratio of 27.82 with a one year low of $31.66 and a 52 week high of $60.97 .
In addition to UBS reporting its target price, a total of 7 brokers have issued a report on the stock. The consensus target price is $49.49 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Ferrari (NYSE:RACE)
Ferrari N.V., together with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers seven models, including four sports cars comprising 488 GTB, 488 Spider, F12berlinetta, and special series F12 Tour de France; and three GT cars that include California T, FF, and GTC4Lusso. It also produces LaFerrari, a limited edition supercar; Fuoriserie, a very limited editions series; and one-off cars; non-registered racing cars; and parts, as well as offers repair, maintenance, and restoration services for cars. In addition, the company licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; and Ferrari World, a theme park in Abu Dhabi. As of December 31, 2015, it had a network of 25 franchised stores and 12 owned Ferrari stores, as well as store.ferrari.com Website. The company sells its products through a network of 176 independent dealers operating 198 points of sale across 60 markets worldwide. Further, it provides direct or indirect finance, and leasing services for the purchase of cars to retail clients and dealers; participates in the Formula 1 racing activities through Scuderia Ferrari; and manages race tracks, as well as holds real estate properties. The company has collaboration agreement with Altair to design and engineer the next generation vehicle platform. Ferrari N.V. was founded in 1947 and is headquartered in Maranello, Italy.
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