1305 GMT - Ferrari EPS growth may slow somewhat in 2025, ahead of the new F80 car launch in the fourth quarter which will drive 2026 mix, Citi analysts write. Car sales growth slowed in 2024 as Ferrari tried to maintain its luxury status and restricted deliveries, despite its backlog, Citi says. Revenue growth was instead driven by improved mix as Ferrari increased deliveries of limited edition Icona models and special series, while prices of new models also rose. EBIT margins should be up around 100 basis points in 2024 and Citi expects 2024 EBIT rose 14% with EPS up 19%. Citi rates Ferrari at sell with a 360 euro target price. Shares rise 1.5% to 424.70 euros. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 08:05 ET (13:05 GMT)
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