Ferrari Shines Brightest In Exor's Holdings

Mare Evidence Lab
5.79K Followers

Summary

  • Exor trades at an 88% NAV discount, which, we believe, is unjustified given its diversified holdings and substantial Ferrari stake.
  • While Stellantis faces challenges, Exor's exposure to more resilient assets, along with a now de-risked position in Philips, underpins a constructive view.
  • With a robust balance sheet, an ongoing buyback, and a solid track record, we remain buyers of EXXRF.

High angle shot of a ferrari car logo

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Our comparative analysis between Exor N.V. (OTCPK:EXXRF) and Porsche Automobil Holding SE (OTCPK:POAHF) (OTCPK:POAHY) proved well-founded: Exor gained over 10% in share price (Fig. 1), while Porsche remained broadly unchanged. Interestingly, what surprised us

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Analyst’s Disclosure:I/we have a beneficial long position in the shares of EXXRF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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