As teams ready for the 1st race of the F1 season at the Austrian Grand Prix next weekend sans track fans, teams have/are running tests to try to get used to a new way of working.
All competitors are braced for logistical difficulties and work to take longer because of social distancing requirements.
Ferrari (NYSE:RACE) sporting director Laurent Mekies says it is adjusting to life with a mask that could prove to be the biggest challenge.
“I think in a very basic way, the biggest challenge, especially for the guys in the garage, will be to wear a mask pretty much all the time,” he said.
“We have been starting to get used to it, and for all of us now it is becoming a part of our normal life. Actually here in Ferrari it’s compulsory, so we wear it at all times in the factory and in the office.”
“But it’s 1 thing to wear it in an office environment, it is something else to wear it when it will be 40c degrees and very hot at the racetrack. All credit to the medical and 1st response persons that are used to doing it and are wearing it on a regular basis every day of their working life.”
F1 will confirm its final schedule, which it has promised to be between 15 and 18 races and should include races in the US, Abu Dhabi, Bahrain and China, in the coming weeks.
Our overall technical outlook is Bullish in here, as all Key indicators are Bullish to Very Bullish as it approaches its all time highs at 179.21 marked on 18 February 2020.
Ferrari (NYSE:RACE) finished Thursday at 170.09, +1.40 in NY just shy of its all time highs.
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now. The stock is now considered defensive in the sector.
Have a healthy weekend, Keep the Faith!