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Although the first is not expected for another two years, Morgan Stanley firmly believes in Ferrari's potential. According to the US investment bank, the iconic sports brand is the most recession-proof car company in the world, thanks in part to its excellent brand image.

In the news: Ferrari is Morgan Stanley's number one carmaker, ahead of Tesla.

  • The investment bank raised its price target for from $280 to $310 per share.
  • Ferrari shares are up 61 percent in the U.S. since their low in June.
    • The stock, listed on the New York Stock Exchange under the "RACE" index, rose 0.3 percent in Monday afternoon trading and was trading at more than $271 per share.
  • , whose shares have risen about 58 percent this year, fell about 1.5 percent earlier this week. Elon Musk's announcements at investor day failed to impress, despite a .

Great potential for electric cars

Electric sports car: In mid-February, Ferrari CEO Benedetto Vigna had said that the first 100 percent electric Ferrari model should be presented to the world in 2025, before coming to market the following year.

  • Analyst Adam Jonas firmly believes in the Italian brand's potential: "Building on the lessons learned from hybrids and applying racing DNA, we believe Ferrari can deliver an electric vehicle that will be as desirable as what investors are used to from the classic models."
    • "In our opinion, buying a Ferrari today is not so much about the sound of engine or performance per se. We believe a combination of factors drive customers to buy a Ferrari: rarity, desirability, luxury and exquisite Italian design and engineering," Jonas said. "That makes Ferrari the most recession-proof and predictable car company in our lineup."

(fjc)

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