“Ferrari, the Tier 1 motorsport’s most successful team is powering back from its worst F1 season in 40 yrs and the fans are as excited as they have ever been.” — Paul Ebeling
“2020 is behind us but it will not be forgotten and it will have made us stronger. All of us in Ferrari want to make sure that we honor our founder Enzo Ferrari to start the 2021 championship with his winning spirit,” said Ferrari President John Elkann in a message to Ferrari’s fans worldwide.
Wednesday, Ferrari (NYSE:RACE) debuted its new F1 car virtually after all of the other teams had unveiled and were testing theirs.
The SF21 is an evolution of last year’s SF1000, but with a new power unit, aka engine, and changed front wing and nose, and revised livery in 2 shades of Red. The Maranello Outfit has not revealed any details, and now has every notable motorsport reporter and writing headline and cover stories. No other team in F! history has gotten this kind pre-season notoriety and coverage.
On the livery team boss Mattia Binotto said, “The rear end is reminiscent of the Burgundy Red of the very 1st Ferrari F1 racer.
“But as it moves gradually towards the cockpit area, it transforms into the modern Red that we have used in most recent years.
This season presents us with many challenges and through this livery, visually, we reboot from our past and head into the future.”
Note: I have seen that F1 body and its color is very different than the road body that is now fitted to c/n 125S.
The Scuderia has changed lineup for Y 2021, with Spain’s Carlos Sainz replacing 4X world champion Sebastian Vettel side by side with Monaco’s Charles Leclerc.
This pairing is Ferrari’s youngest since Y 1968. the season starts on 28 March in Bahrain
“We have tried to learn from our mistakes, we have tried to improve in the areas where simply we have not been strong enough.
We know there is a limit in how fast we can turn things around, but nevertheless we have been trying to reconstruct methodically our way back to the more competitive side of the grid ,”said racing director Laurent Mekies
The racer made its track debut Thursday in Bahrain for a filming day ahead of testing. Putting itself in the limelight ahead of the other10 teams. Talk about branding savvy that since 2014 placed it as the Top brand in the automotive sector world, and now has the Prancing Horse #2 the as world’s most recognizable service mark behind Lego.
Ferrari is The Aristocrat of the automotive sector.
Our overall technical outlook is still Bullish, a Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November and did the same for Q-4 and F-Y 2020 as reported on 2 February.
Ferrari closed Friday at 195.81 within its 52 wk range of 127.73 – 233.66 in NY. It’s all time high in NY was marked at 233.66 intraday on 29 December.
A Key technical indicator has turned Very Bullish. Ferrari’s stock is very oversold in here, but the pattern still indicates the confirmation of the break out at 196.01 on 3 November and confirmed.
The Key support is strong at 191.65 and the Key resistance is at 197,97 at the close Friday in NY.
Note: At the beginning of Y 2020 I called RACE at 230 by year’s end, the stock was trading at 165.22 on 1 January 2020, on 29 December 2020 it marked 233.66 intraday, its all time high
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, and Buys at Morgan Stanley and Bank of America.
UBS is now calling the stock at 365. Citi downgraded the stock from Neutral to sell. I have not seen any other Street downgrades.
Ferrari will continue to create value in the long term as it becomes the world’s 1st Super Luxury brand.
Ferrari is a quality 1st long term luxury products investment, BAML raised its call to 270 long term.
I have raised my long term target to 375, a Strong Bull call, the strongest on the Street and am holding the mark during this recent profit taking, and seeing RACE as a buying opportunity.
Ferrari has an average rating of Buy and a consensus target price at 243.60.
The Maranello Outfit’s shares were raised downgraded from Buy to Hold at HSBC Thursday.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I am calling it 375 long term, the Top on the Street, and adjusting it to 250/share short term.
A number of large investors have recently bought shares of RACE, and there have been very few stances of insider selling over the past yr that we have seen.
The stock is considered defensive in the sector.
Have a healthy weekend, Keep the Faith!