Ferrari stuck with its financial targets for the year, with EBITDA expected around 10% higher at between 1.2 billion to 1.25 billion euros ($1.35 billion to $1.4 billion). The long-term business plan calls for EBITDA of more than 1.3 billion euros ($1.5 billion) by 2020. Investment bank Morgan Stanley raised its target share price to $160 from $140, saying many of its reservations about the company’s future in an electric world were being addressed. According to Bloomberg data, the Ferrari share price on Thursday was $140.46. “Ferrari needs to be careful about how fast and how far it pushes sales of its lower-end cars.

Source: Forbes May 09, 2019 16:18 UTC