Ferrari saw its IBD SmartSelect Composite Rating rise to 96 Thursday, up from 94 the day before.
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The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. Winning stocks often have a 95 or higher grade in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Ferrari is currently forming a cup without handle, with a 509.13 buy point. Look for the stock to break out in volume at least 40% above average.
The stock earns a 96 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth tops 96% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
The company reported 19% EPS growth for Q1. Top line growth increased 13%, up from 7% in the prior report. That marks one quarter of accelerating revenue growth.
Ferrari holds the No. 1 rank among its peers in the Auto Manufacturers industry group. XPeng ADR and General Motors are also among the group's highest-rated stocks.
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