大摩：将法拉利评级下调至“持股观望”

Core Viewpoint - Morgan Stanley downgraded Ferrari's rating from "Overweight" to "Equal-weight" and reduced the target price from $520 to $425 [1] Company Summary - The downgrade reflects a shift in investment sentiment towards Ferrari, indicating a more cautious outlook on the company's future performance [1] - The new target price of $425 suggests a significant reduction in expected growth or profitability compared to previous estimates [1]