Kepler Cheuvreux cuts Italy's Ferretti to 'hold' from 'buy', shares fall

Ferretti SpA

27/04/2026 08:29

** Kepler Cheuvreux cuts Italy's Ferretti YACHT.MI to "hold" from "buy" as it sees its price "broadly in line" with fundamentals as the battle for the control of its board nears its conclusion

** Shares fall as much as 6.2%

** The yacht maker has gained around 40% since last December, with ownership remaining fragmented, the brokerage says

** While the outcome of the May 14 AGM remains uncertain, Ferretti could transition to a phase of potential overhang risk from the losing side, it adds

** Weichai, at around 39.5% of Ferretti, submitted a slate with no explicit CEO nominee

** Czech investor KKCG Maritime, at 23.2% with the potential to capture additional shareholder support to reach around 40% of the yacht maker, submitted a slate suggesting management continuity, the brokerage notes

** Kepler sees Ferretti's Q1 order collection 30% lower Y/Y, burdened by geopolitical tensions

 (Reporting By Philippe Leroy Beaulieu in Gdansk)

 ((Philippe.leroybeaulieu@tr.com))