Southfield — Fiat Chrysler Automobiles 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 car makers. Morgan Stanley values the Jeep sport utility vehicle (SUV) division at €14.70 per share, more than the company’s €10.62 closing price in Milan on Monday, analysts led by Adam Jonas wrote. The Ram brand is worth €6.10 a share, and Fiat Chrysler’s management and board had "taken to heart" the lessons learnt from separating Ferrari from the company, Jonas said. Fiat Chrysler’s US-listed shares surged 8.5% to $12.60, the highest close since trading began in October 2014. The stock has jumped 38% in 2017. CEO Sergio Marchionne told analysts in July that the company would evaluate whether to separate from some of its businesses as part of a strategic plan he would unveil in early 2018, his last major project for the car maker before planning to retire the fo...

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