FMP
Mar 4, 2024 6:07 PM - Davit Kirakosyan(Last modified: Mar 5, 2024 12:05 AM)
Image credit: FMP
Citi analysts slashed Ferrari's (NYSE:RACE) rating to Sell from Neutral due to valuation concerns. The bank appreciates Ferrari's high quality and growth potential but believes the current valuation is too high. The price target has been increased to €329 from €308, reflecting slight adjustments in earnings forecasts and long-term capital expenditure expectations. However, this target remains 15% below Ferrari's current share price.
The analysts find it challenging to justify a Neutral rating, which would suggest a price target of nearly €400. Despite acknowledging the possibility of being premature in this assessment, especially in a market favoring "quality" stocks, the analysts cited Ferrari's 30% price increase since December and its trading at nearly 12x sales and 57x fiscal 2024 PE as reasons for the downgrade to Sell.
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...
May 24, 2024 9:30 AM - Rajnish Katharotiya
Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...
May 27, 2024 3:30 PM - Rajnish Katharotiya
In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...