Ferrari: Oddo confirms its recommendation – 09/14/2022 at 10:12


(CercleFinance.com) – Oddo maintains its ‘outperformance’ recommendation on Ferrari shares and its target price of 260 euros.

The analyst relies on the release of the brand’s long-awaited first SUV, the Purosangue, ‘a model that lives up to expectations, both from a technical and commercial point of view (record order intake), which confirms our opinion that the model should not only contribute positively to the growth of the group but also to its margins’.

In terms of volumes, the group had already announced that it would limit production to 20% of the group’s total volumes over the life of the model, which should represent on average between 2,000 and 3,000 units. Deliveries of the Purosangue should start in the second quarter of 2023.

With waiting lists of up to 18 months, ‘the group enjoys unparalleled visibility’, underlines Oddo. ‘These elements support us in our Outperformance opinion and our target price of 260 euros.

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