Morgan Stanley analyst Adam Jonas upgraded Ferrari from Equal-Weight to Overweight, raising the price target to $438. The previous target was $388. The upgrade reflects increased confidence in the luxury automaker's performance potential.

Ferrari N.V. has repurchased 30,899 common shares for a total consideration of €9,304,162.65 under the second tranche of its multi-year share buyback program. The purchases, executed between June 3 and June 10, 2026, on Euronext Milan (EXM), are part of a broader Euro 250 million tranche announced on April 10, 2026. This initiative aligns with the company's strategy to return capital to shareholders through a buyback program totaling approximately Euro 3.5 billion expected to be executed by 2030.

The transactions were conducted at an average price of €301.1153 per share, excluding fees. The daily breakdown of purchases on EXM is detailed below:

Since the announcement of the second tranche on April 10, 2026, until June 10, 2026, the total invested consideration has reached Euro 114,240,803.52 for 391,709 common shares purchased on EXM. Additionally, the company invested USD 20,498,780.80 (Euro 17,552,737.06) for 62,087 common shares purchased on the NYSE.

As of June 10, 2026, Ferrari held 17,873,467 common shares in treasury, net of shares assigned under its equity incentive plan. This represents 9.22% of the then total issued common shares. Including special voting shares, the treasury holding amounted to 9.55% of the then total issued share capital. The cancellation of treasury shares, approved by the Annual General Meeting of Shareholders on April 15, 2026, has not yet been effectuated and is not reflected in these calculations.

Since the start of the multi-year program on January 5, 2026, until June 10, 2026, Ferrari has purchased a total of 1,339,241 own common shares on EXM and NYSE. This includes transactions for Sell to Cover, amounting to a total consideration of Euro 392,551,625.61.