Shares of Ferrari N.V. RACE have lost more than 13 percent of their value since they started trading in the NYSE on January 5. Moreover, in the past month alone, the shares have fallen roughly 4.3 percent, creating room for upside.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
On Tuesday, following the aforementioned decline, top raters at the Vetr community decided to upgrade their rating on shares of Ferrari, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
The new rating seems more aligned with the crowd’s target price of $45.17, which implies an upside potential of almost 10 percent from current valuations.
Finally, it should be noted that only 66 percent of the crowd’s rating are bullish, meaning that the crowd as a whole is not as bullish as the top raters.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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