Ferrari upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank upgraded Ferrari (RACE) to Buy from Hold with a price target of EUR 520, up from EUR 430. The firm believes the company’s October capital markets day will bring “ambitious” mid-term targets, including adjusted EBIT margins potentially exceeding 30% and an EUR 3B share buyback. It also believes investor focus will increasingly shift to 2026 and the full impact of the new F80 supercar. The F80 “is a major catalyst” for the shares, the analyst tells investors in a research note.