Ferrari “very hard to beat” now, says Lewis Hamilton
MercedesAMG’s Lewis Hamilton says Ferrari’s victory in Singapore shows they will be difficult to beat over the remaining races this year.
Following the Summer break Ferrari’s (NYSE:RACE) strong showing at Spa and Monza was widely expected because of their strong straight-line speed. However, Charles Leclerc’s Pole position and 1-2 finish in Singapore caught many by surprise.
Mr. Hamilton believes their breakthrough result was not just due to them putting a major new upgrade on the car, but more:
“Maybe they already had a good car all year [and] it just wasn’t working in right the window,” he said. “They couldn’t have brought – maybe they did – but it’s unlikely they brought a massive, massive upgrade that’s brought 20, 30 points of downforce or something which is, probably, performance-wise, what you would expect they’ve taken here.”
However it was achieved, Ferrari’s performance in Singapore shows they will be contenders for victory in the remaining races and Mercedes must operate at their very best to beat them, Mr. Hamilton believes.
“Clearly their car works really well everywhere now so it’s going to be very hard to beat them. Particularly [because] they’re so quick on the straights. We can’t compete with them on the straights at the moment.
“We have won before with not the best car. But it’s just really how we deliver over the weekend. At the moment they’re delivering better on both ends.
“If we are better in the operations area then I think that we can just pip them. Like in Singapore I did enough in the race for the first stint to gave come out in the lead but just the whole process didn’t work as well as should do. So we’ve just got to re-huddle and get back together and work hard moving forwards.”
Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.
HeffX-LTN overall technical outlook for RACE is Neutral to Bearish, overhead resistance is at 154.29 and support at 150.51 as 2 Key indicators are now flashing Very Bullish in here. Ferrari finished at 150.66, -2.11 Tuesday in NY.
Note: Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.” “We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published last month, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback since July 16 has provided good entry point in here.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame.