Morgan Stanley cuts target for Ferrari stock to USD 456.00

Published on 10/01/2026 at 16:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ferrari reported EUR 1.94 billion revenue in the second quarter of 2026. Ferrari stock costs EUR 343.30 on October 1, 2026 versus EUR 346.73.

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Ferrari stock (ISIN NL0011585146) was trading at EUR 343.30 at Lang & Schwarz on October 1, 2026 at 4:38 p.m. CEST, with the prior close at EUR 346.73. Morgan Stanley cut its Ferrari price target to USD 456.00 from USD 460.00 on September 30, 2026, while retaining an Overweight rating, as Investing.com reports.

Morgan Stanley sees a model changeover

Morgan Stanley expects Ferrari shipments to decline 1.50 percent year over year in the third quarter of 2026, following 4.00 percent declines in both the first and second quarters, according to the September 30 report. The firm forecasts price and mix growth of 8.50 percent and adjusted EBITDA of EUR 737.00 million, equivalent to a 39.00 percent margin.

The currency adjustment cuts the dollar target but raises Morgan Stanley's euro target to EUR 401.00 from EUR 395.00. That distinction matters for European investors because the Lang & Schwarz quote is in euros, while the analyst's headline target is in US dollars.

Second-quarter revenue rose 8.38 percent

Ferrari generated EUR 1.94 billion of revenue in the second quarter of 2026, compared with EUR 1.79 billion in the second quarter of 2025, while net profit increased to EUR 462.24 million from EUR 424.27 million, Markets Insider reported on September 29, 2026. The revenue comparison implies growth of 8.38 percent, while the net profit comparison implies growth of 8.96 percent.

Ferrari's operating backdrop combines higher pricing and personalization demand with a model changeover that is weighing on shipment volumes. The contrast explains why Morgan Stanley expects stronger price and mix to offset a 1.50 percent shipment decline in the third quarter.

Buyback reaches EUR 557.5 million

Ferrari purchased 53,717 shares between September 14 and September 18, 2026, for EUR 19.06 million, according to MarketScreener. Since January 5, 2026, the company had bought 1,833,249 shares for EUR 557.52 million through September 18, equal to 0.97 percent of issued common shares.

Zacks lists Ferrari's next earnings release for November 3, 2026. That date gives the market its next scheduled checkpoint on whether price and mix can continue to offset lower volumes.

Ferrari stock trades below its prior close

Ferrari stock was trading at EUR 343.30 at Lang & Schwarz on October 1, 2026 at 4:38 p.m. CEST, down minus 0.99 percent versus the prior close of EUR 346.73. The stock's primary listings are Euronext Milan and NYSE, while its 52-week range in US dollars was USD 312.51 to USD 504.49 as of October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of Ferrari stock.