Ferrari Can Sell Fewer Cars and Still Beat, Goldman Says

This article first appeared on GuruFocus. Goldman Sachs raised its price target on Ferrari (NYSE:RACE) to 421 from 407 while keeping a Buy rating, betting the luxury carmaker will beat third-quarter earnings expectations even though management has flagged lower year-over-year volumes. Ferrari shares rose 1.90% in Milan trading. Warning! GuruFocus has detected 3 Warning Sign with AVGO. Is RACE fairly valued? Test your thesis with our free DCF calculator.RACE GF Value chart Goldman sits 3.1% above consensus on third-quarter revenue and 4.1% above on EBIT, despite forecasting slightly fewer cars than the Street, with 3,370 units in the third quarter against a 3,410 consensus.