Ferrari : A still dynamic and uniquely visible outlook
Since its last CMD (06/2022), Ferrari has posted best-in-class stock market and financial performance. After a temporary “slowdown” in 2025 linked with product changeovers, we expect firm reacceleration in 2026 (EPS + 17% y-o-y), followed by less exceptional but still very robust performance over the next BP (2026-2030 EPS CAGR 10%), with still unique visibility. On these strengths, an increase in our 2026/2027e estimates and a relative easing of the stock’s multiples, we reiterate our Outperform rating, with a target price raised from € 455 to € 470.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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