Ferrari: All eyes on quarterly figures

Ferrari shares came under a lot of pressure this Monday due to new Jefferies research. Analysts’ voice makes it clear once again that when it comes to auto stocks, all eyes are currently on the upcoming quarterly figures. Here are the details.

Analyst Philippe Houchois left Ferrari’s rating at “Hold” with a price target of 375 euros ahead of the first-quarter reporting season. The strong growth of prices since the beginning of the year and the average business in the first quarter made him cautious about the figures, he wrote with a view to the values ​​of the car in Europe and the USA.

That was not the analyst opinion Ferrari investors wanted to hear, and so Ferrari shares were briefly sent up to 378.70 euros this Monday. This is the lowest level since the beginning of April. However, as long as the price moves between 397.70 and 396.20 euros based on the closing price within the consolidation from the beginning of April, there is no reason to panic.