(Finance) – Ferrarian Italian car manufacturer that is part of the FTSE MIB, he tore up the stock market shortly after 12, then consolidating the gains in the following hour of trading, after analysts of JPMorgan they improved the recommendation to “Overweight” from “Neutral,” with a target price revised significantly upwards to $525 per share (Ferrari is also listed on the NYSE) from the previous 385 dollars. The stock closed yesterday’s session on Wall Street at $453.
The investment bank believes that i record pricing and backlog levels provide “excellent” visibility on his future growth of the Maranello company. It is noted that the average lead time for a Ferrari car currently averages 24-30 months, significantly higher than the typical waiting time of around 18 months, and recently launched models are 20-30% more expensive compared to the previous ones.
Meanwhile, in Piazza Affari Ferrari it stands at 420.9 euroswith a 1.18% increase. Operationally, expectations are for a continuation of the day in a positive direction with resistance seen at 425.6 and subsequently at 437.1. Support at 414.1.