Why did Ferrari rise on 6 October?
Written after the close on
Ferrari +1.19%
Ferrari rose clearly in the last session, likely helped by fresh analyst support. Over the last five trading days it fell slightly, moving against both a clearly higher S&P 500 and a slightly higher consumer cyclical sector. The most likely driver was a wave of positive broker actions — JP Morgan keeping a Buy rating, Goldman Sachs and Bernstein turning more optimistic — plus the company's ongoing share buyback, in which it repurchased about €29.8 million of stock in a third tranche. Ferrari also said its Hypersail flying monohull project will set up an operational hub in Livorno, using space at Azimut Yachts. Watch the early-November earnings report for the next real test.
Next report: · Add to calendar · Google Calendar