(Alliance News) - Ferrari has lost speed on the stock market. Since last October, following the presentation of its 2030 plan, the stock has dropped from over EUR400 to just above EUR300, shedding around 25%.
This is an unusual trend for a stock that, since its listing, had seen almost uninterrupted growth thanks to high margins, strong pricing power, and exclusivity.
As Milano Finanza reports, however, this does not represent a structural change in sentiment toward the Prancing Horse, but rather a shift to a more selective phase. Investors are demanding greater visibility on the new model cycle, the technological transition, and the sustainability of still very high multiples.
The growth expectations outlined in the 2030 plan – a 5% increase in revenues and a 6% rise in earnings per share – appeared lower than those already priced in by the market.
In this context, several analysts have lowered their recommendations and target prices. HSBC downgraded the stock to 'hold', cutting its price target to EUR345. Deutsche Bank, UBS, Intermonte, Goldman Sachs, and Morgan Stanley have also revised their valuations downward, citing the expected slowdown in 2025 and margin pressures linked to the launch of new models. Jefferies is even more cautious, with a target of EUR310.
Despite the cooling sentiment, the consensus remains positive: according to Bloomberg, 'buy' ratings still prevail, with an average target of EUR388 and an upside potential of around 25%.
The market continues to believe in Ferrari's ability to create value but is asking for patience and greater clarity on the next industrial chapter.
Meanwhile, the competitive landscape is becoming increasingly crowded. Lamborghini continues to post solid growth, while McLaren is preparing an industrial relaunch thanks to over two billion dollars in new capital and a strategy that also targets hybrid SUVs, directly challenging Ferrari and Lamborghini.
Maranello is watching and analyzing, led by CEO Benedetto Vigna. The first electric model will arrive in 2026, with limited volumes and no rush. This is a choice consistent with the brand's DNA, but it requires a delicate balance between exclusivity and transformation. Ferrari may have slowed down on the stock market, but it remains under scrutiny, ready to accelerate again in an ever more competitive race.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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