Ferrari Sheds Last Sell Rating After Unusual Earnings Beat

Ferrari NV has shed its last remaining sell rating after better-than-expected results this week led one of the supercar stock’s biggest bears reluctantly to concede defeat.

Citigroup Inc. upgraded its recommendation on the stock to hold from sell, a view it had maintained for almost two years. Ferrari shares jumped 10% on Tuesday as quarterly earnings, 2026 targets and a gradual ramp-up of F80 deliveries reassured some investors disappointed by a long-term outlook the company gave in October. The stock was up again Thursday.