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RACE

Ferrari

$139.98

-2.65 (-1.86%)

, PM

Philip Morris

$84.31

3.41 (4.22%)

13:10
07/21/18
07/21
13:10
07/21/18
13:10

Ferrari to name former Philip Morris chairman as CEO

The Board of Directors of Ferrari (RACE) said it has learned during its meeting today that Chairman and CEO Sergio Marchionne will be unable to return to work. The Board has named John Elkann as Chairman and will propose to shareholders, at a meeting to be called in the coming days, that Louis Camilleri be named as CEO. The Board has also given Louis Camilleri the necessary powers to ensure continuity of the company's operation. Louis Camilleri is a former Philip Morris (PM) chairman and a member of Ferrari's board.

RACE

Ferrari

$139.98

-2.65 (-1.86%)

PM

Philip Morris

$84.31

3.41 (4.22%)

  • 01

    Aug

RACE Ferrari
$139.98

-2.65 (-1.86%)

07/13/18
CEDG
07/13/18
INITIATION
CEDG
Overweight
Ferrari initiated with an Overweight at Consumer Edge
03/12/18
FBCO
03/12/18
INITIATION
FBCO
Outperform
Ferrari initiated with an Outperform at Credit Suisse
Credit Suisse analyst Michael Binetti initiated Ferrari with an Outperform rating and $150 price target. The analyst believes the combination of Ferrari extending into new categories -- Hybrid in 2019 and Utility in 2020/2021 -- and the company's pricing should drive leverage and EPS upside, supporting Ferrari's valuation over the luxury automaker's peers.
02/26/18
UBSW
02/26/18
NO CHANGE
Target $160
UBSW
Buy
Ferrari price target raised to $160 from $129 at UBS
UBS analyst Helen Brand raised her price target on Ferrari to $160 from $129 as she believes the company's earnings power is underappreciated given its significant pricing power, under-penetrated markets, and upside volumes. Brand reiterated her Buy rating on Ferrari shares.
12/28/17
MSCO
12/28/17
NO CHANGE
MSCO
January to be busy for Autos and Shared Mobility names, says Morgan Stanley
Morgan Stanley analyst Adam Jonas previewed the January calendar for the Autos and Shared Mobility sector, noting that the Vegas CES takes place in the second week and the Detroit Auto Show occurs in the third week of next month. Judging from last year's shows and press releases in recent weeks, he expects "the vast majority" of prepared presentations will focus on autonomous driving, electric propulsion and new business models as companies seek to encourage recognition and valuation of "Auto 2.0 efforts" in the multiples of their stocks, he tells investors. Automakers covered by the firm include Fiat Chrysler (FCAU), Tesla (TSLA), General Motors (GM), Ferrari (RACE) and Ford (F). Auto suppliers covered include Magna (MGA), Goodyear Tire (GT), Adient (ADNT), Delphi Technologies (DLPH), Visteon (VC), BorgWarner (BWA), Aptiv (APTV) and Tenneco (TEN).
PM Philip Morris
$84.31

3.41 (4.22%)

07/20/18
07/20/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Philip Morris (PM) downgraded to Neutral from Overweight at JPMorgan and to Market Perform from Outperform at Cowen. 2. Skechers (SKX) downgraded to Neutral from Positive at Susquehanna and to Market Perform from Outperform at Wells Fargo. 3. McKesson (MCK), AmerisourceBergen (ABC), and Express Scripts (ESRX) downgraded to Neutral from Outperform at Baird. 4. Five Below (FIVE) downgraded to Neutral from Outperform at Credit Suisse with analyst Judah Frommer saying he is moving to the sidelines as he sees risk/reward balanced at current levels given the stock's material outperformance and back-half comp acceleration that he believes is priced into shares. 5. Yum China (YUMC) downgraded to Underperform from Neutral at BofA/Merrill with analyst Chen Luo saying he expects Yum China to continue to underperform given a likely peak in KFC trends amid China's weakening macro environment, a likely prolonged turnaround at Pizza Hut combined with heavy costs, a slowdown in Chinese consumer consumption, and RMB depreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/18
JPMS
07/20/18
DOWNGRADE
Target $80
JPMS
Neutral
Philip Morris downgraded to Neutral on weaker IQOS growth at JPMorgan
JPMorgan analyst Celine Pannuti downgraded Philip Morris to Neutral and cut her price target for the shares to $80 from $93 following yesterday's Q2 results. The analyst says weaker IQOS growth weakens the company's earnings growth trajectory. Further, she sees a lack of meaningful initiatives in e-vapour and limited evidence of a sales recovery over the coming few quarters.
07/20/18
JPMS
07/20/18
DOWNGRADE
JPMS
Neutral
Philip Morris downgraded to Neutral from Overweight at JPMorgan
07/20/18
COWN
07/20/18
DOWNGRADE
Target $85
COWN
Market Perform
Philip Morris downgraded to Market Perform at Cowen
As reported previously, Cowen analyst Vivien Azer downgraded Philip Morris to Market Perform from Outperform. The analyst said the lack of visibility into the potential for accelerating declines in Japan or deceleration in South Korea has caused her to move to the sidelines. Azer lowered her price target to $85 from $99 on Philip Morris shares.

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