Charles Leclerc and The Scuderia sent the Ferrari (NYSE:RACE) fans wild, as they packed out the Monza circuit in the thousands to watch the Maranello Outfit take the Chequered Flag at this track for the 1st time since Y 2010.
This was Charles’ 2nd F1 win, 8ht days after his 1st at Spa. He spent the whole race fending off the advances of the MercedesAMG onslaught of Valtteri Bottas and Lewis Hamilton, who joined him on the podium in that order. This was win number 237 for The Scuderia, its 19th at Monza.
Charles Leclerc #16: “There are no words to describe the emotions I felt during the race, after the race, or on the podium. It felt 10 times stronger than anything I have ever experienced in my whole career. It was very special.
When I arrive at a race weekend, I usually don’t think about winning, I just try to do the best job possible and tell myself that the results will come. But to be honest, seeing all of the support from our tifosi here in Monza this weekend, the only thing I could think of was winning and that’s what we did, so I am very happy.
The race was exciting. The first stint was quite controlled, but the second stint was a bit less strong on my side, because I had to focus on the car behind me a lot as the gap was closing. It was very difficult and I had a lot of pressure on me.
I would like to thank the whole team for all their hard work. Nothing would be possible without them. It was a shame for Seb, who definitely had the potential to be on the podium with me. For the next few races, we have to keep our focus, our motivation, and hopefully the results will follow.”
Mattia Binotto Team Principal: “This is probably the best podium of the whole Championship and you’ve got such a view of it from the pitwall that you cannot miss it. This is something you will remember for years. It is not the 1st victory I have experienced in Monza, but it is something you never get used to. It is so special with all our fans and even more so after such a long race defending and battling.
Coming here we knew we could be competitive, but we also knew there was no margin for error… The whole team did a flawless job, also in terms of strategy, because I think switching to hard tyres was a brave decision. It proved to be the right choice, and it paid off.”
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 164.62 and support at 160.19 all Key indicators are flashing Neutral to Bullish in here. Ferrari finished at 163.23, +1.35 Friday 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 (-7.5% since July 16) as a 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.
Next race is at Singapore in 2 weeks, tune in.
Have a terrific week.