Stock Analyst Note
Ferrari Earnings: Updated Full-Year Guidance Now Matches Our More Optimistic Outlook
Wide-moat Ferrari posted second-quarter earnings per share of EUR 2.29, a beat on FactSet consensus' EUR 2.21, delivering a strong 25% growth year-over-year and an improving cadence on quarter one's 20% earnings per share growth. Management lifted full-year guidance following this improving performance run-rate. Our forecast was already slightly ahead of prior guidance; therefore, we keep our fair value estimate unchanged at EUR 281 per share.