Ferrari (NYSE:RACE) Stock Outperforms in FY 2017

Ferrari (NYSE:RACE) Stock Outperforms in FY 2017

Ferrari (NYSE:RACE) Stock Outperforms in FY 2017

$RACE, $F, $GM, $FCAU

In Y 2016, Ferrari (NYSE:RACE) outperformed legacy automakers and the broader market with 21.1% returns.

YTD it has also been terrific for the Italian luxury Supercar maker too.

As of 14 July, Ferrari stock has delivered over 60% YTD positive returns.

On a YTD basis, Ford (NYSE:F) has lost about 5.4% while General Motors (NYSE:GM)) and Fiat Chrysler (NYSE:FACU) have 1.9% and 26.2% YTD gains, respectively.

Last July about this time I called Ferrari significantly higher on the year on its breakout at 40/share

According to the published data so far this month of July 12, 56% of analysts covering Ferrari have given it “Buy” recommendations. Another 22% have recommended a “Hold,” while the remaining 22% expect Ferrari to drop and have given it “Sell” recommendations.

Ferrari’s consensus 12-month target price was 79.30, which is already about 17% lower than its market price of 93.90.

10 analysts currently cover Ferrari including me, my call is for 100/share near to medium term.

Italian-American auto giant Fiat Chrysler spun off Ferrari as a separate entity on 20 October 2015 when it was listed on the NYSE with an oversubscribed IPO.

In Y 2016, Ferrari’s V12 engine Supercar sales fell, which concerned some analysts and investors, as V12 engine Supercars generate higher profits for the company as compared to its V8 engine vehicles.

In Q-1 of Y 2017, Ferrari revived its V12 car sales. Plus, the company reported a 6.4% Y-Y rise in its global shipments in Q-1. A continuation of this positive trend in the company’s shipments will likely keep investors’ optimism alive in 2-H of Y 2017.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 93.9 14 Jull 14-2017 1.14 92.74 94 92.41 513,500
HeffX-LTN Analysis for RACE Overall Short Intermediate Long
Bullish (0.38) Bullish (0.27) Bullish (0.38) Very Bullish (0.50)

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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