1 Wall Street Analyst Thinks Ferrari Stock Is Going to $357. Is It a Sell Around $414?

Ferrari (NYSE: RACE) stock is off to the races! Gaining an impressive 52% over the past 52 weeks, shares of the Italian sports car maker have outperformed the S 500 by a factor of two already.

But one analyst thinks that now it's time to sell.

Analysts at Citigroup downgraded Ferrari stock to "sell" on Monday, setting a new target price of 329 euros per price (about $357). Curiously, that's actually 7% above Citi's old target price on Ferrari stock. And yet, the analyst seems deeply pessimistic about Ferrari shares and thinks you should sell today. Why?

Continue reading

Source Fool.com