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Morgan Stanley Maintains Overweight on Ferrari, Lowers Price Target to $456

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    FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM

    Ferrari N.V. announced the purchase of 43,000 common shares between October 5-9, 2026, as part of its €250 million third tranche share buyback program. The company invested €114.8 million at an average price of €344.08 per share on Euronext Milan. Since January 2026, Ferrari has purchased 2,032,307 shares for a total consideration of €627.7 million under its multi-year €3.5 billion buyback initiative expected to conclude by 2030.