Ferrari's Valuation Faces Headwind From Earnings Downgrades -- Market Talk

Dow Jones

2025/12/10

1010 GMT - Ferrari's valuation is likely to remain on the back-foot in the near term, Jefferies analysts write. The carmaker's sustained rate of new model ramp ups next year will probably mean reduced shipments in the quarters ahead and greater margin dilution from growing depreciation and amortization, the analysts say. The group's valuation has contracted from a 2026 price-to-earnings ratio peak of 46.3x earlier this year to the current 34.3x, and earnings downgrades are set to remain a headwind to valuation, they add. "We expect the investor debate to remain very sensitive to inflecting top-line momentum." Jefferies lowers its price target on the stock to 310 euros from 345 euros and retains its hold rating. Shares fall 2.6% to 316.50 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

December 10, 2025 05:11 ET (10:11 GMT)

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The carmaker's sustained rate of new model ramp ups next year will probably mean reduced shipments in the quarters ahead and greater margin dilution from growing depreciation and amortization, the analysts say. The group's valuation has contracted from a 2026 price-to-earnings ratio peak of 46.3x earlier this year to the current 34.3x, and earnings downgrades are set to remain a headwind to valuation, they add. \"We expect the investor debate to remain very sensitive to inflecting top-line momentum.\" Jefferies lowers its price target on the stock to 310 euros from 345 euros and retains its hold rating. Shares fall 2.6% to 316.50 euros. 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The carmaker's sustained rate of new model ramp ups next year will probably mean reduced shipments in the quarters ahead and greater margin dilution from growing depreciation and amortization, the analysts say. The group's valuation has contracted from a 2026 price-to-earnings ratio peak of 46.3x earlier this year to the current 34.3x, and earnings downgrades are set to remain a headwind to valuation, they add. \"We expect the investor debate to remain very sensitive to inflecting top-line momentum.\" Jefferies lowers its price target on the stock to 310 euros from 345 euros and retains its hold rating. Shares fall 2.6% to 316.50 euros. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 10, 2025 05:11 ET (10:11 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RACE","symbol_name":"法拉利","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2590758587","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2590758587","pubTimestamp":1765361460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1010 GMT - Ferrari's valuation is likely to remain on the back-foot in the near term, Jefferies analysts write. The carmaker's sustained rate of new model ramp ups next year will probably mean reduced shipments in the quarters ahead and greater margin dilution from growing depreciation and amortization, the analysts say. The group's valuation has contracted from a 2026 price-to-earnings ratio peak of 46.3x earlier this year to the current 34.3x, and earnings downgrades are set to remain a headwind to valuation, they add. \"We expect the investor debate to remain very sensitive to inflecting top-line momentum.\" Jefferies lowers its price target on the stock to 310 euros from 345 euros and retains its hold rating. Shares fall 2.6% to 316.50 euros. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate","earning"],"viewcount":null,"language":"en","relate_stocks":{"RACE":"法拉利"},"translate_title":"法拉利估值面临盈利下调带来的阻力——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RACE":1.5},"content_text":"1010 GMT - Ferrari's valuation is likely to remain on the back-foot in the near term, Jefferies analysts write. The carmaker's sustained rate of new model ramp ups next year will probably mean reduced shipments in the quarters ahead and greater margin dilution from growing depreciation and amortization, the analysts say. The group's valuation has contracted from a 2026 price-to-earnings ratio peak of 46.3x earlier this year to the current 34.3x, and earnings downgrades are set to remain a headwind to valuation, they add. \"We expect the investor debate to remain very sensitive to inflecting top-line momentum.\" Jefferies lowers its price target on the stock to 310 euros from 345 euros and retains its hold rating. Shares fall 2.6% to 316.50 euros. (dominic.chopping@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 10, 2025 05:11 ET (10:11 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}