Ferrari's shares initially fell after the unveiling of its Luce electric vehicle, which did not align with the brand's traditional design philosophy. However, the stock has since recovered, and analysts from Bank of America and Wolfe Research have expressed renewed confidence in the company's prospects.
Bank of America raised its price target for Ferrari to $458, indicating a potential upside of nearly 22%, while Wolfe initiated coverage with a buy rating and a target of $436. Despite a 24% decline over the past year, analysts note that Ferrari's recent introduction of the 12 Cilindri Manuale, a high-end 12-cylinder model priced at $675,000, could offset lower sales expectations for the Luce.
Analyst Horst Schneider adjusted his forecasts, reducing expected Luce sales but compensating with anticipated demand for the Manuale. Wolfe's Emmanuel Rosner believes that concerns regarding electrification are overstated, as Ferrari has gained valuable experience in alternative powertrains and is likely to adopt a measured approach to future electric vehicle offerings.
Looking ahead, analysts expect a significant growth phase for Ferrari in 2027, driven by new models that could enhance sales and profit margins, reinforcing the company's history of exceeding guidance expectations. The next quarterly earnings report is anticipated at the end of July