Ferrari should present its new supercar next week - JP Morgan sees 20% potential!
Ferrari is an absolute long-running stock that I have already mentioned many times. Despite the difficult economic situation, the demand for luxury cars is unbroken. On October 11, JP Morgan upgraded the share from "Neutral" to "Overweight". The price target was raised from USD 385 to USD 525, which corresponds to around € 480.
A positive mention was made of Ferrari's "highly visible earnings growth", which is increasingly appreciated by investors due to increasing macroeconomic, industry and geopolitical uncertainties. JP Morgan expects Ferrari to prove impervious to the current slowdown in China and European luxury goods brands. The bank praised the new electric Ferrari as a "true Ferrari" and said that the car offers an "incredible" driving experience. JPMorgan believes that Ferrari could unveil its latest "supercar" as early as next week.
The share generated an all-time high of € 450 at the beginning of September. Since then, the share has been consolidating. With the upgrade and the upcoming event behind it, the share could break out to a new high in the near future. (RACE)
https://de.motor1.com/news/725649/erster-elektro-ferrari-exklusives-rendering/
