• Barclays reaffirms its "Overweight" rating for Ferrari (NYSE:RACE), increasing the price target from EUR 450 to EUR 500.
• Ferrari progresses with its share buyback program, investing significantly in both the Euronext Milan and the New York Stock Exchange.
• The company's market capitalization and active trading volume highlight its significant presence and investor interest in the automotive industry.

On October 21, 2024, Barclays maintained its "Overweight" rating for Ferrari (NYSE:RACE), suggesting confidence in the company's future performance. The stock price at the time was $480.18, and Barclays increased Ferrari's price target from EUR 450 to EUR 500, as highlighted by TheFly. This indicates a positive outlook for Ferrari's stock, despite recent fluctuations.

Ferrari is actively progressing with its share buyback program, which is part of a larger initiative valued at approximately €2 billion, expected to conclude by 2026. The current phase, the Fifth Tranche, involves a €250 million buyback. As of October 18, 2024, Ferrari has invested €155.7 million to purchase 380,250 common shares on the Euronext Milan (EXM).

Additionally, Ferrari has spent $45.5 million (equivalent to €41 million) to acquire 97,673 common shares on the New York Stock Exchange (NYSE). This buyback strategy can help increase the value of remaining shares by reducing the total number of shares available in the market. As of the same date, Ferrari holds 14,643,589 shares in treasury.

The stock for RACE is currently priced at $480.18, reflecting a slight decrease of 0.45% or $2.17. During the day, the stock has fluctuated between a low of $476.93 and a high of $482.39. Over the past year, RACE has reached a high of $498.23 and a low of $296.34, showing significant volatility.

Ferrari's market capitalization stands at approximately $86.32 billion, indicating its substantial size and influence in the automotive industry. Today's trading volume for RACE is 144,527 shares, suggesting active investor interest. Despite the recent price decrease, Barclays' increased price target reflects confidence in Ferrari's long-term growth potential.