Ferrari shares fell more than 12% on Thursday, setting the stock for its biggest one-day drop since its listing nine years ago even as the luxury sports car maker maintained its guidance, though it said it would cut back prices in the US.
Citi analysts said though Ferrari continued to deliver solid results, the focus had shifted to whether the Milan- and New York-listed group can sustain its high profitability amid slowing growth in sales volumes and pricing.
"The focus shifts to how far the EBIT margin can go in H2, with shipments and average selling prices slowing," wrote Harald Hendrikse at Citi.
Ferrari said it will reduce the price compensation it introduced in April on some cars sold in the US once tariffs on EU-made products effectively move to 15% from 27.5%.
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