1102 GMT - Italian luxury sports-car maker Ferrari could post another quarter of robust cash flow, supported by strong earnings and limited working capital outflows, Deutsche Bank analyst Nicolai Kempf writes. Amid the continuing model transition, the bank expects shipments to remain down on year, although this should be more than offset by favorable pricing and product-mix effects. The continued ramp-up of the F80 is expected to support the mix, while the launch of the 296 Speciale family should largely offset the phase-out of the SF90 XX, Kempf says. Personalization demand remains strong and should help absorb higher costs, he adds. The bank rates Ferrari stock at buy with a 460-euro target price. Shares rise 1.8% to 354.10 euros.
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