Ferrari Boosts Buybacks as Analysts Raise Targets

Ferrari NV (MIL:RACE) has been actively engaged in a stock buyback program, spending €57.46 million on 160,799 shares on Euronext and $21.999 million on 53,790 shares on the NYSE between January 5 and September 25, 2026. This buyback has added 1,805,393 shares to the company's treasury, representing about 1.02% of its total shares.

Analysts remain bullish on Ferrari's prospects. Goldman Sachs reiterated its Buy rating and raised its price target, forecasting strong cash flow and robust demand for special-series models like the F80, 296, and upcoming launches. Despite anticipating slightly lower Q3 deliveries than consensus estimates, Goldman expects Q3 revenue and EBIT to exceed street expectations.

Deutsche Bank also sees Ferrari benefiting from solid earnings, favorable pricing, and limited working-capital use. The bank highlights the ramp-up of the F80 model and the launch of the 296 Speciale as key drivers. Ferrari's shares have risen 1.8% to €354.10.

Goldman Sachs projects Ferrari's average selling prices (ASPs) pre-currency to reach €456,000 in Q3 and €461,000 in Q4, driven by strong demand for the F80, 849 Testarossa, and 296 VS models, along with high personalization rates above 20%. Analysts have raised their forecasts for special-series volumes to 2,540 in 2026 and 2,480 in 2027, while cutting 2024 Luce deliveries to 150 and slowing the ramp-up of the Amalfi model.