Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 15 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Ferrari (RACE US) Q2 2024: Margin Uptrend Continues, No Demand Weakness

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Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/ferrari-n-v" target="_blank" data-smartkarma-citation="entities:21010:1" rel="noopener">Ferrari N.V. (RACE US)</a> reported a Q3 2024 result in line with expectations, with volumes disappointing slightly -2.2% YoY but revenue/profits coming in at 7%/13% YoY. </li>
<li>The company stuck to its FY24 guidance. It reiterated that supply would remain limited and that it would focus on pricing/mix to maintain high margins.</li>
<li>The valuations at 52x FY24/45x FY25 PE are rich, but any correction in share price would be worth exploring for this name. </li>
</ul>



Ferrari N.V. (RACE US) reported a Q3 2024 result in line with expectations, with volumes disappointing slightly -2.2% YoY but revenue/profits coming in at 7%/13% YoY. 
The company stuck to its FY24 guidance. It reiterated that supply would remain limited and that it would focus on pricing/mix to maintain high margins.
The valuations at 52x FY24/45x FY25 PE are rich, but any correction in share price would be worth exploring for this name. 


Ferrari (RACE US) Q3 2024: Growth Trajectory Intact, Share Price Correction An Opportunity