8 Top Auto Stocks to Buy In 2021

Advertisements

6. Ferrari (RACE)

In 2016, Ferrari was separated from its former parent company, Fiat Chrysler Automobiles (FCAU). In 2020, Ferrari has outperformed the S&P 500, gaining nearly 30% year to date. Ferrari’s product mix, pricing power, and strategic execution, according to Murphy, outperform many of its auto peers. In 2019, Ferrari’s average selling price for its vehicles was around $324,000, boosting the company’s margins and resulting in a net profit of $200 million in the third quarter. RACE stock has a “buy” rating and a $270 price target from Bank of America.


Advertisements
Advertisements