During case discussion of Ferrari The 2015 Initial Public Offering, we discussed the application of multiples valuation in the deal analysis. Using the data presented below, calculate the comparable companies valuation range for the Ferraris shares. Explain your choice. Make sure you express valuation range in Euros per share.

Information about Ferrari:

2014 Revenues: 2,762 million

2014 EBIT: 398 million

2014 Depreciation & Amortization Expense: 289 million

2014 Net Income: 265 million

2014 Net Debt: 2,009 million

Shares Outstanding: 189 million

EBITDAMarginProjectedGrowthRateEntVale/EBITDA Auto Manufacturers BMWWDaimlerFiatChryslerFordMotorGeneralMotorsHondaMotorHyundaiMotorKiaMotorsNissanMotorPeugeotRenaultTataMotorsTeslaMotorsToyotaMotorVolkswagenMedian20%14%9%8%6%13%11%8%13%6%10%17%0%15%11%11%6.1%6.9%4.6%10.1%4.5%6.9%6.8%1.6%6.2%7.0%8.9%5.5%94.9%3.2%3.5%6.2%8.28.96.317.712.88.110.37.38.410.315.04.93,298.311.08.38.9 Luxury Brands BurberryGroupCieFinanciereRichemontHermesInternationalLVMHMoetHennessyPradsTiffany&Co.Median23%28%36%23%27%25%26%2.6%3.1%6.8%2.1%1.9%4.7%2.9%10.414.523.912.89.712.412.6