AlphaValue/Baader Europe Expects Ferrari to Hit FY30 Targets Ahead of Schedule; Estimates Updated

AlphaValue/Baader Europe expects Ferrari (RACE.MI) to achieve its full-year 2030 financial goals by 2028, saying it is in line with the Italian luxury carmaker's history of outpacing its long-term guidance. The research firm said Monday it held a "more positive view" on the company's future profitability, citing "a stronger-than-expected product mix and lower-than-anticipated dilution from the [electric vehicle] launch." In the near term, AlphaValue/Baader Europe analysts raised their 2026 EBIT estimate by 0.7% to 2.26 billion euros, implying an EBIT margin of 30%. "This reflects positive comments made during the H1 FY26 pre-close call, although FY26 profitability is still expected to be weighed down by product changeovers, resulting in lower volumes, as well as higher [depreciation and amortization] and [selling, general, and administrative] expenses," the note said. Analysts also lifted their 2027 EBIT projection by 0.7% to 2.48 billion euros, representing a 30.5% EBIT margin, fueled by a stronger-than-expected mix from the debut of the limited-series 12Cilindri. For 2028, the research firm hiked its EBIT assumption by 5% to 2.75 billion euros, implying a 32% margin, due.