How Will Ferrari (NYSE:RACE) Stock React To Societe Generale New Ratings Coverage and $45.0 Target Price?

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Societe_Generale_Analyst_Rating_Change Ferrari NYSE:RACE

Ferrari (NYSE:RACE) Price Target & New Coverage by Societe Generale

In analysts report revealed to investors on Thursday, 13 October, professional analysts at Societe Generale has initiated coverage on shares of Ferrari (NYSE:RACE). The firm set a “Sell” rating with $45.0, giving -15.90 % to target.

In spite of the new coverage NYSE:RACE is right now trading -1.70% lower at $52.60 as of 06:01 New York time. Ferrari shares have increased 15.25% over the past 200 days, while the S&P 500 has increased 4.02% during the same time.

According to data compiled by Thomson Reuters, Ferrari (NYSE:RACE)’s stock is covered by 7 equity analysts across the Street, with 0 analysts giving it a Sell rating, 0 a Buy rating, while 0 consider it a Hold. The 12-month consensus target price for the stock is $49.49, which reflects an downside potential of 5.91% over the current price.

NYSE:RACE Price Chart & Trend

The stock price of Ferrari went up 15.25% over the last 200 days, and is in powerful up trend. In the last 50 and 100 days, Ferrari is up 15.05% and up 32.08%, respectively. Our stocks momentum model is shown on the price chart below.How Will Ferrari (NYSE:RACE) Stock React To Societe Generale New Ratings Coverage and $45.0 Target Price?

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Ferrari (NYSE:RACE) traded down -1.70% on 13 October, hitting $52.6. A total of 630,715 shares of the company’s stock traded hands. This is up from average of 414,265 shares. Ferrari has a 52 week low of $31.66 and a 52 week high of $60.97. The company has a market cap of $10.11 billion and a P/E ratio of 34.61.

Get the latest Ferrari (NYSE:RACE) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

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