Goldman Raises Ferrari Target Amid Strong Q2 Earnings

Ferrari's stock price held steady at EUR 354.48 on September 30, 2026, despite Goldman Sachs' increased target of EUR 421.00 per share, a 18.77 percent increase from its previous valuation.

The higher target is based on Goldman's forecast that Ferrari will exceed third-quarter earnings expectations, with deliveries expected to reach 3,370 vehicles at an estimated average selling price of EUR 456,000, surpassing consensus estimates of 3,410 vehicles.

Ferrari's second-quarter operating results provided the basis for the target increase, with revenue reaching EUR 1.94 billion and growing 11 percent at constant currency, or 8 percent including currency effects. EBITDA was EUR 755 million, and industrial free cash flow was EUR 275 million.

Investors have taken notice of Ferrari's capital allocation strategy, with the company purchasing 82,524 common shares between September 21 and 25 for a total of EUR 29,796,393.26, representing 1.02 percent of issued common shares as of September 25, 2026.