** JP Morgan initiates coverage of Ferrari's RACE.MI Milan-listed shares at "overweight" as it says its electric transition process started at the "right time"

** Sets its December 2026 PT at 394 euros ($459.48)

** The Italian luxury carmaker has done a "solid job" in the vertical integration of some of its electric components, JPM adds

** As Ferrari's business model is "robust", product launches will continue providing opportunities to improve pricing, mix and "potentially" achieve its 2030 targets early, it says

** It notes that the powertrain strategy may create margin volatility in 2026 due to launch costs, and higher costs for the ramping up of its paintshop and E facility

** Up to the previous session's close, shares were down 11.7%​ YTD.

** Out of 17 analysts that cover Ferrari NV, 11 rate the stock "strong buy" or "buy,"​ four rate "hold" and two​ rate "strong sell" or "sell" - LSEG data

($1 = 0.8575 euros)

(Reporting by Philippe Leroy Beaulieu in Gdansk)

((Philippe.leroybeaulieu@tr.com))