Ferrari stock becomes Morgan Stanley’s top pick stock, replacing Tesla. This was announced by Morgan Stanley analyst Adam Jonas.
Jonas also announced that he has revised Ferrari’s target price upwards by more than 10%, motivating the decision with car orders and Ferrari’s pricing power.
The company’s prancing horse price target has been improved from the previous $280 to $310, implying upside potential for RACE stock traded on the New York Stock Exchange by nearly 15% from last Friday’s closing value .
“We believe RACE is the best positioned company among the stocks we cover, in a very uncertain macroeconomic and geopolitical environment. In addition to strong fundamentals, we believe RACE has factors to leverage for both growth and downside protection, taking into consideration different macro scenarios.”
And again, in the note from Morgan Stanley we read that trust in Ferrari is based on two key elements:
1) The long-term opportunities in the EV market and with regards to new models.
2) A predictable business model “of an almost unrivaled brand”.
An article by Bloomberg recalls that the Ferrari stock traded on the New York Stock Exchange has flown by 61% from the minimum tested in the month of June.
Tesla, the giant led and founded by Elon Musk, is also the protagonist today for the news relating to its decision to cut the prices of its most expensive models in the United States, the Model S and the Model X: a decision taken to entice potential customers shopping for her EV jewelry.
The price of the Tesla Model S was lowered by approximately 5% to $89,990, while that of the Model X was reduced by 9%, to $99,990.
This means that for the “paid” versions of the Model S and Model X, auto buyers would have to pay $109,990, down 4% from the latest Model S Plaid price and 8% for the Model X Plaid. .