📰 BERNSTEIN SAYS TARIFFS ‘DO NOT BREAK THE FERRARI STORY’ 🔸 Ferrari, which builds all its cars in Italy, faces Trump’s 25% import tariff. However, wealthy U.S. buyers can absorb higher prices. Most U.S. Ferrari buyers already own multiple Ferraris, so rising values offset costs. Potential tax cuts and interest payment deductions could further help. Despite the tariff jump from 2.5% to 25%, demand remains strong, and even double-digit price hikes won’t deter collectors. Reiterating $575 price target & Outperform rating.