フェラーリの株かぶが大おおきく下さがる　将来しょうらいの見通みとおしに心配しんぱいの声こえ

On October 9th U.S. time, Ferraris stock price plummeted in both the European and U.S. markets after the company announced earnings forecasts that fell far short of market expectations, marking its worst trading day ever in both markets.

This is the largest single-day drop since Ferrari shares were listed on this exchange in October 2015.

In the Milan market, stock prices also fell by more than 14%, losing about 60 euros approximately 10,000 yen.

At an exchange rate of 1 euro = 176 yen, it decreased to approximately 357.60 euros about 60,000 yen.

This is also the largest one-day drop since the company was listed in January 2016.

At the Capital Markets Day event held on the 9th, Ferrari announced that its sales this year are expected to reach 7.1 billion euros approximately 1.25 trillion yen.

This is a revision that increases the amount by more than 7 billion euros about 1.23 trillion yen compared to the previous forecast.

Furthermore, the company has also presented a long-term outlook, aiming to increase its sales in 2030 to approximately 9 billion euros about 1.58 trillion yen, and its adjusted profit from 2.7 billion euros about 475.2 billion yen to at least 3.6 billion euros about 633.6 billion yen.

RBC Capital analyst Tom Narayan said in a report on the 9th that while the profit forecast for 2030 is considered conservative, the current guidance is significantly lower than the growth rate Ferrari indicated in 2022, and investors need to factor in a greater-than-expected slowdown.

Mr. Narayan pointed out that Ferraris latest outlook reflects the managements cautious stance and is even lower than the worst-case scenario predicted by Citi.

New York-based investment research firm CFRA downgraded Ferrari’s stock rating to “sell” and revised its target price from $475 about ¥700,000 to $350 about ¥500,000.