Bernstein analyst Daniel Roeska lowered the firm’s price target on Ferrari (RACE) to $475 from $554 and keeps an Outperform rating on the shares. The firm notes some 300 investors, analysts and journalists descended on Ferrari in Maranello to be briefed on its new BEV drive-train technology for its forthcoming Elettrica BEV, and for Ferrari’s CMD. Bernstein cites the more “prudent” tone of this latest communication from Ferrari for the price target decrease.
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