Ferrari: Luce EV Fears Keep Open A Luxury-Compounder Entry Point

Ferrari remains a compelling medium-to-long-term buy, with a prudent EV strategy anchored by the new Luce model. RACE's valuation has derated to 28-31x forward earnings, offering a rare entry point for a luxury compounder with strong financials and order book visibility through 2027. The company's cautious 2030 mix (20% EV, 40% ICE, 40% hybrid) positions it for luxury EV leadership while preserving brand prestige and mitigating near-term EV adoption risks.