UPDATE: Morgan Stanley Double Downgrades Ferrari (RACE) to Underweight

September 7, 2017 5:10 AM EDT
Get Alerts RACE Hot Sheet
Price: $192.37 +2.54%

Rating Summary:
    12 Buy, 2 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 16 | New: 12
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(Updated - September 7, 2017 7:58 AM EDT)

(updated to add analyst comment)

Morgan Stanley downgraded Ferrari (NYSE: RACE) from Overweight to Underweight with a price target of $100.00.

Analyst Adam Jonas as some "valuation concerns" given the recent run up in the stock price. The analyst also sees emerging threats from McLaren, Aston Martin and Lamborghini which could generate headwinds for the brand. He also has reservations regarding the impact to the brand as it enters the SUV market.

For an analyst ratings summary and ratings history on Ferrari click here. For more ratings news on Ferrari click here.

Shares of Ferrari closed at $116.85 yesterday.

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