Morgan Stanley loves Ferrari
Jonas is raising his target price to $60 from $56 and has an "overweight" rating on the stock, which was trading at $54 on Wednesday.
Then he explained why Ferrari looks so appealing - and he didn't hold back:
I've quoted Jonas at length here because he has completely nailed what makes Ferrari special. There's a reason why it's one of the most important brands in the world - and why the automaker's stock has been bucking a Wall Street trend, with other car companies seeing their shares stall or decline.
In fact, Jonas now sounds more enthusiastic about Ferrari than Tesla, a company he's been quite bullish on in the past, but has more recently been trimming back his enthusiasm for.