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According to Goldman Sachs, the arrival of a new CEO and the move to electric vehicles should leave Ferrari’s stock in the park for the foreseeable future.
The luxury automaker appointed semiconductor industry veteran Benedetto Vigna as its new chief executive officer earlier this month. The move, along with a new electric vehicle plan, has signaled to many on Wall Street that Ferrari is entering a new tech-focused era.
Goldman analyst George Galliers downgraded the stock to sell rather than buy, saying the strategic shift puts a cap on what Ferrari can do in the short term.