Ferrari upgraded to Hold from Underperform at Jefferies

Jefferies analyst Philippe Houchois upgraded Ferrari to Hold from Underperform with a price target of $180, up from $140. The company’s recent Capital Markets Division meeting addressed his concerns about balancing growth, investment spending and intellectual property, said Houchois. Meanwhile, management’s stated targets keep Ferrari on track to deliver double-digit earnings growth through 2026, the analyst noted, adding that he still views the valuation as “full.”