NEW YORK (TheStreet) -- It's been a busy week for Fiat Chrysler (FCAU) - Get Report.

On Monday, Fiat Chrysler was hit with a $105 million fine by the National Highway Traffic and Safety Administration, the highest fine the U.S. automobile safety watchdog has ever charged.

The company is also readying earnings for release Thursday. Richard Hilgert, an analyst at Morningstar, is looking for some specific things from that report.

"We think that in general the Street misunderstands this story and there is a lot more opportunity coming with the integration between Fiat and Chrysler," Hilgert said. "We also think that the Street also misprices the assets that underlie the stock that is out there under the Fiat Chrysler umbrella."

Hilgert said that he was specifically looking to see how the Jeep brand was doing with its global growth and expansion. Hilgert will be looking to see how the Jeep Renegade, which after the Fiat Chrysler merger is being manufactured in an Italian plant, is selling overseas.

Along with Europe, he will be listening for how Brazilian markets are doing, since both are "substantially off their peaks." He said that despite these economic headwinds, Fiat has the largest market share in both Italian and Brazilian markets.

Hilgert will also "want to hear what the company has to say recent discussions... around Magneti Marelli." Magneti Marelli is the Italian supplier and subsidiary of Fiat Chrysler's Italian operations. Hilgert said rumors have been circulating around a possible Magneti Marelli spinoff from its parent company.

Finally, Hilgert will be looking to see what Fiat Chrysler has to say about the spinoff of the company's equity in Ferrari. He said there will potentially be a 10% initial public offering of the Fiat's holdings in Ferrari happening in October, with the spinoff of the remaining equity in 2016.

"We think that with the way the stock is trading right now, both of those assets are undervalued within that stock price," Hilgert said in regard to the coming spinoffs.