Ferrari shares are trading higher after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $385 to $525.
Portfolio Pulse from Benzinga Newsdesk
Ferrari shares are experiencing an upward trend following an upgrade by JP Morgan from Neutral to Overweight, with a price target increase from $385 to $525.
October 11, 2024 | 1:26 pm
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JP Morgan has upgraded Ferrari's stock from Neutral to Overweight and increased the price target from $385 to $525, leading to a rise in Ferrari's share price.
The upgrade by a major financial institution like JP Morgan typically signals confidence in the company's future performance, encouraging investors to buy. The significant increase in the price target suggests strong expected growth, likely driving the stock price up in the short term.
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