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.
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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.
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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.
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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 "
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