02:56 AM EST, 11/05/2026 (MT Newswires) -- BofA Global Research believes Ferrari's (RACE.MI) "limited" full-year 2026 guidance lift after a "solid" third-quarter performance indicates confidence and "sensibly preserves" earnings upside potential heading into 2027. "Ferrari continued its beat-and-raise pattern, although the FY26 upgrade was modest and is unlikely to trigger meaningful consensus revisions. We had questioned whether Ferrari would raise guidance again in our recent note and therefore see the move as a confident signal, including for FY27. The new guidance is broadly in line with our estimates and consensus," analysts said Wednesday. The Italian luxury car manufacturer raised its revenue outlook by 50 million euros to 7.65 billion euros and lifted its adjusted diluted EPS outlook to 9.85 euros from 9.68 euros. The research firm noted the largest increase was in industrial free cash flow guidance, rising by 100 million euros to 1.65 billion euros or more. "Visibility into FY27 remains high, with stronger F80 and Special Series deliveries, resilient personalisation and improving FX set to support another step-up in ASP and profitability," the research firm wrote, adding it forecasts a 15% EPS growth in 2027 and expects Ferrari to beat its 2030 EBIT margin target of over 30% next year, reaching 32% by 2030. Accordingly, BofA maintained the stock's buy rating, with a price objective of 395 euros.

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