Ferrari price target raised to $300 from $275 at Jefferies

Jefferies raised the firm’s price target on Ferrari to $300 from $275 and keeps a Hold rating on the shares. The company’s Q2 set new records in average selling prices and operating margin, the analyst tells investors in a research note. However, the firm questions the continued stretching of order books from 12 to now 36 months over time and the sustainability credentials of e-fuels “in an otherwise stellar decarbonization strategy.”