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Analysts Lower Their Target Price for Ferrari

John Parker
Updated
Analysts Lower Their Target Price for Ferrari

Ferrari stock (RACE) has fallen ~7.5% this month after falling 14.5% in October. The fourth-quarter broader market sell-off has affected the Italian luxury carmaker the most among automakers. RACE has outperformed legacy auto companies and the broader market for the last two years. In 2016 and 2017, the stock rose ~21% and 80.3%, respectively, attracting auto investors’ attention. In comparison (XLY), Tesla (TSLA), General Motors (GM), and Ford (F) rose 45.7%, 17.7%, and 3.0%, respectively, in 2017.

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