Ferrari Shares Recover After Forecast Worries
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Ferrari's shares faced volatility after a pessimistic tone from management following its first-quarter results, leading to a 4% drop despite a 1% initial rise. However, shares rebounded as a healthy long-term outlook was established. The company reported a 4% increase in EBITDA to €722 million and a 3% rise in revenue to €1.85 billion. Analysts from Berenberg Bank and UBS maintain a positive outlook, reiterating their buy ratings and emphasizing strong demand for Ferrari's products, including the upcoming electric model, the Luce.
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