Ferrari price target lowered to EUR 310 from EUR 345 at Jefferies

Jefferies lowered the firm’s price target on Ferrari (RACE) to EUR 310 from EUR 345 and keeps a Hold rating on the shares. The firm trimmed its 2026 estimates to better reflect Ferrari’s sustained rate of new model ramp ups next year, which will likely mean reduced shipments in the quarters ahead and greater margin dilution from growing D&A. The firm’s lowered price target reflects the valuation headwinds, which will likely affect the shares as consensus downgrades persist, the analyst tells investors in a research note.