Since its 2015 spinoff from Fiat Chrysler Automobiles, Ferrari stock has performed exceptionally well: up 50% since the IPO and up a whopping 92% over the past 12 months.
ADVERTISEMENT
Morgan Stanley just got even more bullish on Ferrari (RACE, TSLA)
Auto analyst Adam Jonas has been a Ferrari bull since last year, and he just got more bullish.
null
ADVERTISEMENT
Morgan Stanley auto analyst Adam Jonas has been a Ferrari bull since last year, and he just got more bullish.
Last November, he hiked his price target to $60 from $56 and later raised in to $72. In a note published on Monday, he pushed that number to $100.
Ferrari shares closed at $82 last Friday.
ADVERTISEMENT
Jonas, a longtime Tesla bull, likes Ferrari so much that he has bumped Tesla from his top three picks in the auto sector to make room for the Italian manufacturer of exotic supercars. According to Morgan Stanley, Jonas "
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Best live dealer casino: Top USA live casinos online
Best real money online casinos USA: Top 10 casino sites in 2024
OPEC excited about partnership with Namibia
The US loses to Russia and China in popularity across Africa
Top 10 most valuable South African brands in 2024
Africa's giants play tug of war for the top economic spot
Morocco is making giant strides to become Africa's aviation manufacturing hub
Hackers test their ransomwares in less protected regions like Africa before striking richer nations: Report