The Dow rose slightly Monday, as Wall Street fought to hold onto last week’s gains and investors braced for a busy week of economic news. The Dow rose 0.12%. The S&P 500 gained 0.07%. The Nasdaq dipped 0.11%.
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.
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.
Net orders fell 1.6% from December, a small drop than the 1.8% slide expected by economists polled by Dow Jones.
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