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Berenberg Lowers Ferrari Price Target, Estimates Ahead of FY26 Outlook

MT Newswires·12/16/2025 03:58:14
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03:58 AM EST, 12/16/2025 (MT Newswires) -- Berenberg trimmed its price target and financial projections for Ferrari (RACE.MI) ahead of the Italian luxury sports car manufacturer's 2026 guidance and the potential 'reset' in consensus for F80 volumes. "After an investor-relations catch-up, we further reduce our [sales and EPS] estimates to reflect greater-than-expected [foreign exchange] headwinds and flat volumes in 2026 (we previously expected 1.3% growth)," analysts said Tuesday. "While consensus still sits above what we expect Ferrari to guide to (mid-single-digit revenue growth and an EBIT margin at or above the 2025 level), we believe the buyside is ahead of the sell-side in cutting numbers, limiting further negative catalysts." The research firm also noted "mixed" dealer feedback regarding the styling of its new Range model and "lingering oversupply" in the secondary market amid struggles to gain new buyers. Keeping the buy rating, the stock's price target was cut to 381 euros from 399 euros.