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BUZZ-Ferrari leads European peers after 'robust' Q3 beat

Reuters
Nov 04
BUZZ-Ferrari leads European peers after 'robust' Q3 beat

** Milan-listed shares in Ferrari RACE.MI rise as much as 3% after the luxury sports-car maker posted Q3 results above expectations

** J.P.Morgan describes the results as "robust," saying that Ferrari outperformed concerns related to U.S. tariffs and softer sales in China

** Ferrari's Q3 EBITDA came in at 670 million euros ($781.35 million), topping a 649 million euro estimate in Reuters-compiled poll

** The results "may swing the conversation back to long-term targets reflecting the group's tradition for conservatism", Jefferies notes

** Stock pares some gains and is up 1.6% at 1306 GMT - the only riser among European peers .SXAP

** Up to the previous session's close, it was down around 18%​ YTD

($1 = 0.8575 euros)

(Reporting by Philippe Leroy Beaulieu)

((philippe.leroybeaulieu@thomsonreuters.com))

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