Asia-Pacific shares are set for a lower open on Tuesday as investors await RBA's rate decision, as well as a docket of economic data across the region.
Analyst Adam Jonas increased Ferrari's price target by $30 to $310, implying the stock could rally 14.2% over the next year. He said the carmaker's defensiveness and hard-to-replicate luxury brand would be assets in amid a changing economic backdrop.
"We believe RACE is the best positioned company in our coverage in a highly uncertain macroeconomic and geopolitical tape," he said in a note to clients Monday. "In addition to its strong fundamentals, we believe RACE has levers to pull for both growth or downside protection, within a wide dispersion of macro outcomes."
He also said the stock "avoids much of the EV hype and EV risk." Still, he said the company had an underappreciated opportunity in the space as it could move away from internal combustion engines without losing the core of the brand.Tesla shares fall following vehicle price cutson its two most expensive models in the U.S. to improve demand.
Following the price cuts, the Tesla Model S now starts at $89,990, according to Tesla's website. That's about 5% below its previous price. The Model X, meanwhile, begins at $99,990, representing a 9% reduction in cost.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Travel demand fuels a boom in Asia Pacific — in hotel ratesHotel rates in destinations that are popular with Chinese travelers are 45% higher, with rates going even higher in Singapore and parts of Thailand.
Consulte Mais informação »
Reserve Bank of Australia Unveils Proposed CBDC Use Cases – Featured Bitcoin NewsIn a statement, the central bank revealed that the chosen use cases had been selected from a large number of submissions made by industry participants. cbdc digitalcurrency
Consulte Mais informação »
Former central Pa. bank CEO rings bells at New York Stock ExchangeOfficials marked the recent merger of Lower Paxton Township-based Centric Bank and First Commonwealth Bank.
Consulte Mais informação »
Porn 'Zoom-bomber' hijacks online event with Federal Reserve governorInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Consulte Mais informação »
Israeli reserve pilots ditch drill in protest at judicial overhaulDozens of Israeli air force reservists said on Sunday they would not turn up for a training day in protest against Prime Minister Benjamin Netanyahu's judicial reforms, a jolt for a country whose melting-pot military is meant to be apolitical.
Consulte Mais informação »