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Ferrari outperforms Tesla in the market!

Tesla Inc. is no longer the favorite US-listed automaker of Adam Jonas, the Morgan Stanley analyst who has been a long-time bull on the electric vehicle maker.

Ferrari’s US-listed stock has gained 61% since June’s low

Tweet on Ferrari stock vs Tesla

Bloomberg chart

The Italian carmaker has ‘near unmatched brand’ and pricing power

Jonas now prefers Italian luxury car maker Ferrari NV, saying it has the “longest order backlog, greatest earnings visibility, and highest pricing power of any company we cover.” The maker of six-figure supercars like the new €390,000 ($415,000)

Ferrari’s US-listed stock has gained 61% since a low in June and got a recent boost after the company raised its outlook amid strong demand from wealthy customers for its high-margin models.

Shares in Tesla have rallied this year, but are still down 51% from a 2022 high. The Elon Musk-led company had a tumultuous year amid Musk’s takeover of Twitter Inc., investor jitters about growth assets and concern that high inflation and rising interest rates will dampen demand for EVs.