On August 3, Ferrari NV rose 3.13% in regular trading, trading at approximately $407.28/share, with turnover of $30.08 million. The rally was driven by a cluster of analyst target price upgrades coupled with the tailwind from a strong Q2 earnings report.

On the news front, Citigroup raised its Ferrari target price from €320 to €347, Berenberg raised from €381 to €384, and Jefferies lifted its target from €380 to €400. UBS maintained its Buy rating while making a minor adjustment to $490 from $497. These upgrades followed Ferrari's Q2 results released on July 30, which significantly beat consensus: quarterly revenue came in at €1.94 billion, up approximately 8% year-over-year versus estimates of €1.87 billion, while EPS of $3.05 topped the $2.83 estimate by 7.8%. The company simultaneously raised full-year guidance, projecting revenue of approximately €7.6 billion and adjusted EPS of at least €9.68, both above prior targets and analyst expectations.

Additionally, Ferrari's first pure-electric model Luce achieved its annual sales target within just two months of launch, with production through 2027 fully sold out, underscoring robust global demand momentum.

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