Ferrari Stock Gets a Boost: JPMorgan Raises Target After Strong 2025, Analysts See Over 30% Upside
Maranello's prancing horse is catching the eye of Wall Street once again. Following the release of Ferrari N.V.'s (NYSE:RACE) fiscal 2025 results, a wave of analyst optimism is sweeping through the market, with JPMorgan taking a notably bullish stance.
On March 3, 2026, JPMorgan analyst Jose Asumendi updated the firm's model, lifting the price target on Ferrari from $407 to $447 and reaffirming an "Overweight" rating. This move underscores a broader sentiment: as of March 11, over 75% of analysts covering the stock maintain bullish ratings.
The confidence stems from a resilient performance. Ferrari reported a 7% year-over-year revenue increase to €7.15 billion for 2025, backed by strong margins. Looking ahead, management has guided for approximately €7.5 billion in revenue and a robust 39% EBITDA margin for 2026. This optimism is fueled by a significant model change-over, increased Formula One racing revenues from sponsorships, and expanded brand investments in lifestyle activities.
"The recent pullback in share price, down over 25% in the last six months, appears disconnected from the fundamental strength and clear roadmap the company has laid out," noted Asumendi in his research note. The consensus price objective of $449.85 suggests a potential upside of over 30% from current levels.
JPMorgan isn't alone in its revised outlook. Bernstein also turned more optimistic post-results, raising its price target from $395 to $410 while reiterating an "Outperform" rating. The analysis highlights Ferrari's unique position—it operates not just as an automaker but as an ultra-luxury brand and a dominant force in Formula One, a combination that provides multiple engines for growth and pricing power largely insulated from broader economic cycles.
Investor Reactions: A Mix of Confidence and Skepticism
We spoke to several investors for their take on the latest analyst moves:
- Michael Thorne, Portfolio Manager at Apex Capital: "This is classic Ferrari. The stock experiences volatility, but the underlying business model—artificially constrained supply, insane brand equity, and now a more diversified revenue stream from racing and merchandising—is rock solid. The raised targets are a recognition of that durability."
- Sarah Chen, Retail Investor: "As a long-term holder, I'm pleased but not surprised. The 2026 guidance on margins is key. It shows they can navigate cost inflation and still deliver exceptional profitability. It's a luxury stock that actually acts like one."
- David Reeves, Independent Market Analyst: "Let's pump the brakes. A 30% upside call after a 25% drop just sounds like analysts trying to justify previous mistakes. The valuation is still astronomical. This feels like more hopium for a 'story stock' while ignoring that even luxury demand isn't completely immune to a slowing global economy."
- Giovanna Rossi, European Equities Specialist: "The focus on higher racing revenues is a smart strategic pivot. It monetizes their core racing heritage beyond just selling cars. For investors, it adds a layer of recurring, high-margin income that reduces reliance on the pure automotive cycle."
Founded by Enzo Ferrari and based in Maranello, Italy, Ferrari N.V. continues to demonstrate that its blend of high-performance engineering, exclusivity, and global spectacle (via Formula One) creates a financial profile as distinctive as its cars.