Wall Street does not understand Ferrari business
Adam Jonas
Morgan Stanley analyst Adam Jonas  thinks Ferrari needs to go electric to survive.
 Morgan Stanley auto analyst Adam Jonas  is to be commended for pushing an investment thesis on the future of mobility so out-there that it's difficult for the rest of Wall Street to keep up.
But sometimes  Jonas  pushes too far  as  he  did on Thursday in a research note about Ferrari and the prospects for the exotic Italian automaker switching from gas engines  with their succulent Ferrari scream  to all-electric powertrains.
 Jonas  raises a thornier conundrum:
 Jonas  then makes a second classic error when looking at Ferrari  comparing it to the Tesla Model S in terms of acceleration.
 Jonas  thinks  he 's being stoutly contrarian in arguing that Ferrari must be seriously thinking about going electric  despite an all-electric future being pretty speculative at this point (hardly beside the point  with a $100 price target of Ferrari and an "Overweight" rating â the stock is now trading at $114 â Jonas appears to be building a bear case).
What  Jonas  and all of Wall Street fails to understand is that Ferrari is art  at many levels. And art doesn't care to survive just so investors can make money no matter what happens.
[TGT] thinks Ferrari needs to go electric to survive.
  [TGT] is to be commended for pushing an investment thesis on the future of mobility so out-there that it's difficult for the rest of Wall Street to keep up.
But sometimes   [TGT] pushes too far  as   [TGT]   did on Thursday in a research note about Ferrari and the prospects for the exotic Italian automaker switching from gas engines  with their succulent Ferrari scream  to all-electric powertrains.
  [TGT] raises a thornier conundrum:
  [TGT] then makes a second classic error when looking at Ferrari  comparing it to the Tesla Model S in terms of acceleration.
  [TGT] thinks   [TGT]  's being stoutly contrarian in arguing that Ferrari must be seriously thinking about going electric  despite an all-electric future being pretty speculative at this point (hardly beside the point  with a $100 price target of Ferrari and an "Overweight" rating â the stock is now trading at $114 â  [TGT]  appears to be building a bear case).
What  Jonas  and all of Wall Street fails to understand is that Ferrari is art  at many levels. And art doesn't care to survive just so investors can make money no matter what happens.