A recovering European car market, improving margins and well-received new models could underpin Fiat Chrysler Automobiles shares even after the spin-off of luxury brand Ferrari, when some analysts predict a reversal for the stock. Shares in the world's seventh-largest carmaker have been rising since the start of last year, fuelled by hopes that a full takeover of U.S. unit Chrysler and a listing of the merged group on Wall Street could deliver a long-promised turnaround. In particular, they have leapt more than 80 percent since October, when CEO Sergio Marchionne announced plans to spin off Ferrari and give a big chunk of the highly-prized sports car maker's shares to Fiat Chrysler Automobiles (FCA) investors.