Using the information in the case study you are requested to answer the following questions (Q1, 3 and 4 should take no more than 1 page): What type of IPO is Ferrari and how is it conducted? (Hint: Ferrari used ADRs to list on the NYSE. You should explain what ADRs are and how they work) Use the information about comparables as well as the forecasted Cash Flow to estimate a possible price for Ferrari shares, explaining clearly your steps. Do you see any limitation in conducting a comparable analysis? How does your price estimate compare with the price range set by the company and its underwriters? Comment on the IPO performance at the opening of the trading specifically relating your discussion to the course content. Finally compare your forecast of cashflow with the actual ones achieved by Ferrari and compare it to the company's most recent stock price performance.