5 Most Promising Car Stocks According to Analysts

4. Ferrari N.V. (NYSE:RACE)

Number of Hedge Fund Holders: 32

One-year Average Price Estimate: $286.00

Sports car company Ferrari N.V. (NYSE:RACE) ranks 4th in our list of the most promising car stocks according to analysts. Ferrari N.V. (NYSE:RACE)’s one-year average price estimate is $286.  Earlier this month, Morgan Stanley called Ferrari N.V. (NYSE:RACE) its top automobile stock pick. Morgan Stanley’s Adam Jonas believes Ferrari N.V. (NYSE:RACE) is a strong defensive play which avoids the risk and overhype associated with EV stocks.

Jonas thinks in addition to strong fundamentals, Ferrari N.V. (NYSE:RACE) has “levers to pull for both growth or downside protection, within a wide dispersion of macro outcomes.”

Adam Jonas has an Overweight rating on Ferrari N.V. (NYSE:RACE) and a $310 price target.

As of the end of the fourth quarter of 2022, 32 hedge funds reported owning stakes in Ferrari N.V. (NYSE:RACE). The total value of these hedge funds’ stakes is $924 million. The biggest stakeholder of Ferrari N.V. (NYSE:RACE) is Anand Desai’s Darsana Capital Partners which owns a $161 million stake in the company.