Jefferies Raises Ferrari Price Target Amid Strong Pricing Power and Personalization Growth
Jefferies has raised its price target for Ferrari (NYSE:RACE) to €400 from a previous level, maintaining a 'Buy' rating. The decision follows the luxury automaker's second-quarter results that demonstrated stronger-than-expected pricing power and demand for personalization options. Despite broader concerns about consumer discretionary spending, Ferrari delivered an underlying average selling price increase of over 15% in Q2. The firm highlighted robust growth in personalization revenue—exceeding 20% across models and regions—as a key driver behind the improved outlook. Jefferies also noted that Ferrari's order book is fully covered through 2027, excluding potential orders for its new model, the 12Cilindri Manuale. The analyst raised estimates by 3-4%, forecasting higher-than-consensus revenue and EBIT margin growth in 2026. Jefferies anticipates Ferrari's average selling price to rise further in H2 of this year due to pricemix strength, with the firm also factoring in flexibility from shipment management. The upcoming launch of Ferrari’s first electric vehicle, Luce, is seen as a strategic milestone.
Tickers: $RACE
Topics: Automotive Luxury Goods Personalization Pricing Strategy