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<blockquote data-quote="Weather Man" data-source="post: 16688754" data-attributes="member: 137766"><p><h3><a href="https://seekingalpha.com/news/3763999-ferrari-on-the-rise-after-receiving-street-high-price-target-from-societe-generale?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Ferrari on the rise after receiving Street high price target from Societe Generale</a></h3><p><a href="https://seekingalpha.com/symbol/RACE" target="_blank">RACE +3.08%</a>Nov. 03, 2021 10:30 AM ET<a href="https://seekingalpha.com/news/3763999-ferrari-on-the-rise-after-receiving-street-high-price-target-from-societe-generale?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments" target="_blank">1 Comment</a></p><ul> <li data-xf-list-type="ul">Ferrari (<a href="https://seekingalpha.com/symbol/RACE" target="_blank">RACE</a> +3.3%) shares jump as Societe Generale upgrades the stock to Buy from Hold, citing the automaker's record net order intake and ability to sidestep semiconductor chip shortage issues.</li> <li data-xf-list-type="ul">Analyst Stephen Reitman said that he isn't overly concerned about the transition to electric vehicles at the company. "We believe the brand’s core values of performance, desirability and exclusiveness can be just as relevant in an EV world as in the ICE gasoline world," he comments.</li> <li data-xf-list-type="ul">Reitman was also impressed by new CEO Benedetto Vigna, whose background at STMicroelectronics signaled a clear intention by Ferrari to accelerate the company's shift to electrification. Societe Generale's confidence level has "increased significantly" following their impressions of Vigna in Ferrari's <a href="https://seekingalpha.com/article/4464629-ferraris-race-ceo-benedetto-vigna-on-q3-2021-results-earnings-call-transcript" target="_blank">Q3 earnings call.</a></li> <li data-xf-list-type="ul">Societe Generale places a Street high price target of $290 on RACE as compared to the <a href="https://seekingalpha.com/symbol/RACE/ratings/sell-side-ratings" target="_blank">average sell-side price target of $218.</a></li> </ul><p></p><p></p><p></p><h3><a href="https://seekingalpha.com/news/3763937-ford-motor-us-sales-rose-123-mm-in-october-led-by-suvs-ev-sales-up-195-yy?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Ford Motor U.S. sales rose 12.3% M/M in October led by SUVs; EV sales up 195% Y/Y</a></h3><p><a href="https://seekingalpha.com/symbol/F" target="_blank">F +1.22%</a>Nov. 03, 2021 9:49 AM ET<a href="https://seekingalpha.com/news/3763937-ford-motor-us-sales-rose-123-mm-in-october-led-by-suvs-ev-sales-up-195-yy?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments" target="_blank">26 Comments</a></p><ul> <li data-xf-list-type="ul">Ford Motor (<a href="https://seekingalpha.com/symbol/F" target="_blank">F</a> +0.2%) <a href="https://seekingalpha.com/pr/18542666-new-products-strong-inventory-make-ford-america-s-top-selling-automaker-for-second-straight" target="_blank">reports</a> U.S. sales down 4% Y/Y to 175,918 vehicles in October whereas sales grew 12.3% sequentially.</li> <li data-xf-list-type="ul">Truck sales fell 7% Y/Y to 94,449 units, Car sales down 74.3% Y/Y to 3,142 units, and SUVs +12.8% Y/Y to 78,327 units.</li> <li data-xf-list-type="ul">Total retail sales -3.8%: Truck -8%, Cars -72.5% and SUV +14.2%.</li> <li data-xf-list-type="ul">SUVs posted their best October retail sales in 21 years with 17.4% growth to 70,002 units. Bronco sales for the month totaling 7,364 SUVs – up 117% M/M.</li> <li data-xf-list-type="ul">The automaker took in 77,000 retail orders for new vehicles in October, up 25,000 vs. September’s new vehicle orders.</li> <li data-xf-list-type="ul">Ford’s electrified vehicle sales were up 195% Y/Y on sales of 14,062 vehicles.</li> <li data-xf-list-type="ul">Total Pickup Truck retail sales jumped 25% over September.</li> <li data-xf-list-type="ul">F-Series retail sales increased 14.2%, while Ranger retail sales were up 60%.</li> <li data-xf-list-type="ul">Mustang Mach-E retail sales jumped 76.9% for the month, with 21,703 vehicles sold year to date.</li> <li data-xf-list-type="ul">“Continuous improvement in inventories and new products made Ford the best-selling automaker in America for the second month in a row, which was last accomplished 23 years ago. Retail sales improved 16 percent, relative to September, with retail share up 1.6 percentage points. <strong><span style="color: rgb(243, 121, 52)">We also had our third consecutive month with over 30 percent of our retail sales coming from customer orders, while also adding 77,000 new orders in October.</span></strong> F-Series, strong SUV sales driven by Bronco, Bronco Sport, Mustang Mach-E and the first full month of Maverick sales really fueled our performance", says Andrew Frick, vice president, Ford Sales U.S. and Canada.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16688754, member: 137766"] [HEADING=2][URL='https://seekingalpha.com/news/3763999-ferrari-on-the-rise-after-receiving-street-high-price-target-from-societe-generale?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Ferrari on the rise after receiving Street high price target from Societe Generale[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/RACE']RACE +3.08%[/URL]Nov. 03, 2021 10:30 AM ET[URL='https://seekingalpha.com/news/3763999-ferrari-on-the-rise-after-receiving-street-high-price-target-from-societe-generale?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments']1 Comment[/URL] [LIST] [*]Ferrari ([URL='https://seekingalpha.com/symbol/RACE']RACE[/URL] +3.3%) shares jump as Societe Generale upgrades the stock to Buy from Hold, citing the automaker's record net order intake and ability to sidestep semiconductor chip shortage issues. [*]Analyst Stephen Reitman said that he isn't overly concerned about the transition to electric vehicles at the company. "We believe the brand’s core values of performance, desirability and exclusiveness can be just as relevant in an EV world as in the ICE gasoline world," he comments. [*]Reitman was also impressed by new CEO Benedetto Vigna, whose background at STMicroelectronics signaled a clear intention by Ferrari to accelerate the company's shift to electrification. Societe Generale's confidence level has "increased significantly" following their impressions of Vigna in Ferrari's [URL='https://seekingalpha.com/article/4464629-ferraris-race-ceo-benedetto-vigna-on-q3-2021-results-earnings-call-transcript']Q3 earnings call.[/URL] [*]Societe Generale places a Street high price target of $290 on RACE as compared to the [URL='https://seekingalpha.com/symbol/RACE/ratings/sell-side-ratings']average sell-side price target of $218.[/URL] [/LIST] [HEADING=2][URL='https://seekingalpha.com/news/3763937-ford-motor-us-sales-rose-123-mm-in-october-led-by-suvs-ev-sales-up-195-yy?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Ford Motor U.S. sales rose 12.3% M/M in October led by SUVs; EV sales up 195% Y/Y[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/F']F +1.22%[/URL]Nov. 03, 2021 9:49 AM ET[URL='https://seekingalpha.com/news/3763937-ford-motor-us-sales-rose-123-mm-in-october-led-by-suvs-ev-sales-up-195-yy?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments']26 Comments[/URL] [LIST] [*]Ford Motor ([URL='https://seekingalpha.com/symbol/F']F[/URL] +0.2%) [URL='https://seekingalpha.com/pr/18542666-new-products-strong-inventory-make-ford-america-s-top-selling-automaker-for-second-straight']reports[/URL] U.S. sales down 4% Y/Y to 175,918 vehicles in October whereas sales grew 12.3% sequentially. [*]Truck sales fell 7% Y/Y to 94,449 units, Car sales down 74.3% Y/Y to 3,142 units, and SUVs +12.8% Y/Y to 78,327 units. [*]Total retail sales -3.8%: Truck -8%, Cars -72.5% and SUV +14.2%. [*]SUVs posted their best October retail sales in 21 years with 17.4% growth to 70,002 units. Bronco sales for the month totaling 7,364 SUVs – up 117% M/M. [*]The automaker took in 77,000 retail orders for new vehicles in October, up 25,000 vs. September’s new vehicle orders. [*]Ford’s electrified vehicle sales were up 195% Y/Y on sales of 14,062 vehicles. [*]Total Pickup Truck retail sales jumped 25% over September. [*]F-Series retail sales increased 14.2%, while Ranger retail sales were up 60%. [*]Mustang Mach-E retail sales jumped 76.9% for the month, with 21,703 vehicles sold year to date. [*]“Continuous improvement in inventories and new products made Ford the best-selling automaker in America for the second month in a row, which was last accomplished 23 years ago. Retail sales improved 16 percent, relative to September, with retail share up 1.6 percentage points. [B][COLOR=rgb(243, 121, 52)]We also had our third consecutive month with over 30 percent of our retail sales coming from customer orders, while also adding 77,000 new orders in October.[/COLOR][/B] F-Series, strong SUV sales driven by Bronco, Bronco Sport, Mustang Mach-E and the first full month of Maverick sales really fueled our performance", says Andrew Frick, vice president, Ford Sales U.S. and Canada. [/LIST] [/QUOTE]
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