(News Bulletin 247) – Morgan Stanley has decided to make Ferrari its preferred value (‘top pick’) within the American automotive sector, replacing Tesla, can we read in a note released on Monday.
The design office, which raises its price target from 280 to 310 dollars on the Ferrari title listed on the New York Stock Exchange, judges that the Italian group constitutes a ‘defensive’ choice in order to avoid the runaway and the risks associated with the transition to electric vehicles.
The analyst explains that he particularly appreciates Ferrari for the opportunities that the manufacturer could seize in the long term with the launch of new models and a rise in electrification, an element undervalued by the market from his point of view.
Morgan Stanley, which displays an ‘overweight’ recommendation on the title, adds that it also appreciates the ‘predictable’ business model of the Maranello group, as well as its unparalleled brand in and depth of its market.
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