Ferrari price target raised to $584 from $513 at UBS

UBS raised the firm’s price target on Ferrari (RACE) to $584 from $513 and keeps a Buy rating on the shares. Ferrari’s results proved the strength of the business model and the brand, with high-end demand continuing to exceed supply despite macro conditions, the analyst tells investors in a research note. The key surprise of the conference call was that 2025 is set to be first-half weighted, supported by the remaining deliveries of the Daytona, with only few units of the F80 supercar contributing from Q4, and the first-half-weighted outlook de-risks the year and leaves room to potentially surprise on the upside in the second-half, the firm says.