Trading call on Ferrari
Note: This is a daily stock update and the information stands true as of 10/02/26, 09:00 CET.
Company Update:
Our expert is no fan of Ferrari as he doesn't find a stock trading at 30x as especially cheap, especially when it cannot, for obvious reasons, massively increase the output of cars produced going forward, leaving only price increase as the sales growth driver. Nevertheless, our analyst is quite convinced you need to be long Ferrari into the results. Check more on our website for more information.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
Company Update:
Ahead of Ferrari’s FY25 results due at 2pm today, we reiterate our Strong Buy / Buy and Hold recommendation, particularly at the current share price and valuation levels.
In our view, the key concerns weighing on the stock are already fully priced in. The market has digested the conservative 2030 guidance and the relatively softer FY26 outlook, which will be impacted by the ramp-up of new models and lower F80 deliveries. Importantly, this reflects a deliberate adjustment in shipment cadence to ensure a more linear and controlled trajectory toward the 2030 targets. Ferrari can afford this approach given its exceptional order book visibility, which extends beyond two years.
Ferrari has historically guided conservatively, effectively managing analyst expectations ahead of results. We expect a similar pattern today, with opportunity for beat versus consensus, driving a positive market reaction.
Valuation is particularly compelling. Ferrari is currently trading at around 30x FY26 P/E, a level not seen since 2018. Even assuming no rerating toward historical multiples of 40–50x, we see at least 10-15% upside into FY26 driven by earnings growth alone.
Overall, with expectations low, downside risk is limited, while upside potential remains significant. We therefore see the current setup as highly attractive for long-term investor, particularly considering that Ferrari has a history of outperforming its objectives.
Expert Opinion:Our expert is no fan of Ferrari as he doesn't find a stock trading at 30x as especially cheap, especially when it cannot, for obvious reasons, massively increase the output of cars produced going forward, leaving only price increase as the sales growth driver. Nevertheless, our analyst is quite convinced you need to be long Ferrari into the results. Check more on our website for more information.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
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