RBC Capital analyst Tom Narayan reiterated an Outperform rating and EUR 500 price target on Ferrari (RACE), saying that while the shares are down roughly 12% on the day, the firm believes the reaction is overblown. RBC said it would be a buyer on this weakness, as it has happened with Ferrari before and usually these reactions are met with immediate recoveries. The analyst said that the company not raising its 2025 was not concerning, nor were its comments on U.S. residual values or the CFO’s comments on reducing deliveries to improve revenue quality.
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