Shares of Ferrari (NYSE:RACE) are higher in today’s trading session, which can be attributed to an analyst upgrade. Martin Wilkie changed his rating from Sell to Hold while assigning a price target of $230 per share. For reference, his previous price target was $160.
Although Wilkie expects pricing problems for automakers going forward, he also notes that Ferrari buyers aren’t concerned about prices. Indeed, Ferrari might be able to actually increase prices.
Overall, Wall Street analysts are bullish on RACE stock with a Moderate Buy rating. In addition, the consensus price target of $237.46 implies 2.65% upside potential, as indicated by the graphic above.
