Ferrari’s latest quarter is giving investors another reason to pay up for the luxury automaker: Berenberg kept its “Buy” rating and 384 euro target after the company beat expectations in a difficult market and lifted its full-year outlook again.
Ferrari Beats Estimates, Berenberg Keeps Buy
That matters because Ferrari is one of the few auto names still trading more like a luxury asset than a cyclical manufacturer. The company’s repeated guidance upgrades suggest pricing power and order books are holding up even as broader demand in autos stays uneven, which helps explain why the stock has stayed near elevated levels despite recent volatility.
Berenberg’s view echoes the market’s broader reassessment of Ferrari after the company’s Q3 update and the latest interim report. The new targets now sit broadly in line with consensus, signaling that the bar for further estimate increases has risen, but also that the recent rally has been backed by fundamentals rather than just brand premium.
Ferrari shares closed at 423.96 euros on the latest session, after touching 432.45 euros a day earlier, well above the 384-euro target. The stock is trading above both its 50-day and 200-day moving averages, while the RSI has remained elevated, pointing to strong momentum even after the pullback.
For investors, the key question is whether Ferrari can keep stretching margins and profits through customization demand, limited supply and its electric vehicle pipeline. The next catalyst is likely to be whether the company can turn the latest guidance raise into another round of upgrades and whether the stock can justify an even richer valuation from here.
| Entity | Gains | Losses |
|---|---|---|
| Ferrari | ▲Higher guidance support | ▼Valuation skepticism |
| Long investors | ▲Momentum and estimate upside | ▼Risk of profit-taking |
| Short sellers | ▲— | ▼Stronger fundamentals |
| Luxury auto rivals | ▲Sector re-rating spillover | ▼Relative attention and capital |
