Ferrari price target raised to $465 from $430 at Evercore ISI

Evercore ISI raised the firm’s price target on Ferrari to $465 from $430 and keeps an Outperform rating on the shares. The firm, which contends that Q1 should “showcase a solid start” to 2024, maintains an above-consensus Q1 EBITDA estimate of EUR 596M and FY24 EBITDA estimate of EUR2.56B, the analyst tells investors in an earnings preview note.