“Exor NV (EXO): The Massive Discount Continues To Widen”
Ferrari is a high-quality, resilient luxury brand with strong pricing power and intact growth assumptions; however, its current valuation (~36x P/E) is still considered expensive relative to the recent low (~30x), making it less attractive as a direct investment now than immediately after the Luce announcement.
At the beginning of 2026, we told you that you could buy a Ferrari at a 50% discount by owning it through Exer, an Italian holding company. the crown jewel asset underneath, Ferrari, has posted yet another record quarter.
And not only did it post another record quarter, but they're guiding for its best year in history.