Deals
Fiat Chrysler Hits Record as Morgan Stanley Sees Deal-Making
- Report says carmaker rejected bid by unnamed Chinese company
- Analyst sees ‘hidden value’ in brands including Jeep, Ram
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Fiat Chrysler Automobiles NV shares climbed to a record after Morgan Stanley analysts said they see “substantial hidden value” in several of the company’s brands that could emerge from spin-offs or sales to other automakers.
Morgan Stanley values the Jeep sport utility vehicle division at 14.7 euros per share, more than the company’s 10.62 euro closing price in Milan Monday, analysts led by Adam Jonas wrote. The Ram brand is worth 6.1 euros a share, and Fiat Chrysler’s management and board has “taken to heart” the lessons learned from separating Ferrari NV from the company, Jonas said.