The excitement surrounding Ferrari's flotation on the New York Stock Exchange might have revved into top gear, but a handful of European analysts aren't getting too carried away.
The iconic prancing horse marque is being spun-off from parent Fiat-Chrysler Wednesday. The book has now closed with approximately 9 percent stake being sold. This equates to 17.2 million shares, at $52 a share, which values the company close to $10 billion.
Jim McCaughan, CEO of Principal Global Investors, told CNBC that it's likely to be a successful initial public offering (IPO) but was cool of the idea of any personal involvement.