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Jefferies Remains a Buy on Ferrari (RACE)

Tipranks - Tipranks - Thu May 28, 1:16PM CDT

In a report released today, James Grzinic from Jefferies maintained a Buy rating on Ferrari, with a price target of €350.00.

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According to TipRanks, Grzinic is a 4-star analyst with an average return of 4.7% and a 57.66% success rate.

In addition to Jefferies, Ferrari also received a Buy from RBC Capital’s Tom Narayan in a report issued today. However, on May 12, Morgan Stanley maintained a Hold rating on Ferrari (NYSE: RACE).

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Based on Ferrari’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of €1.85 billion and a net profit of €412.86 million. In comparison, last year the company earned a revenue of €1.79 billion and had a net profit of €411.64 million

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RACE in relation to earlier this year.

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