Ferrari shares rebound 14% as analysts raise price targets

Ferrari's shares recovered from an initial drop after the May unveiling of the fully electric Luce model, trading about 14% above pre‑launch levels. Bank of America reiterated a buy recommendation and lifted its price target to $458 per share from $403, forecasting a potential 22% rise. Wolfe Research also initiated coverage with a $436 target. Analysts highlighted the upcoming 12‑cylinder manual‑transmission model, priced at $675,000, as a way to offset weaker demand for the electric range. Forecasts were adjusted, cutting Luce volume expectations while adding 500 units of the new Manuale for 2027‑2029. Overall, 14 of 15 analysts covering Ferrari now advise buy or strong‑buy. Despite the rebound, the company remains in a broader downturn, having fallen 24% over the past year and 17% in October 2025 after earlier negative guidance. Ferrari's next quarterly results are expected at the end of July.