MILAN (dpa-AFX Broker) – Ferrari shares fell to the bottom of the Eurozone leading index EuroStoxx 50 on Monday with a loss of 2.6 percent to 331.70 euros.
Morgan Stanley analysts had previously downgraded the sports car manufacturer’s shares from “Overweight” to “Equalweight” and lowered the price target from $520 to $425. The new target therefore corresponds to around 365 euros.
Ferrari’s annual loss increased to around 20 percent; The papers also tested the most recent support around 330 euros./mis/stw/zb
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