UBS lowered the firm’s price target on Ferrari (RACE) to $529 from $579 and keeps a Buy rating on the shares. The company has taken the right decision to protect the longevity of its growth by steering clear of the pricing missteps seen across the luxury industry, the analyst tells investors in a research note. Ferrari is one of the most compelling long-term growth stories in the sector, even if it may lack positive catalysts in the short-term, the firm adds.
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