“Liberty Media supports “a great battle between all teams,” says F1 CEO Stefano Domenicali
F1’s commercial rights holders Liberty Media do not favor Ferrari due to their history in the sport, F1 CEO Stefano Domenicali insists.
The former Ferrari team principal said that although The Scuderia certainly has a “big role” and a rich history in the sport, Liberty Media is committed to promoting a “great battle” throughout the grid.
“Ferrari is unique for what they have done in Formula 1 and therefore they play a big role in the history of motorsport.”
He also discussed the sport’s return to Imola for the upcoming Emilia Romagna Grand Prix this coming weekend. Remembering, “Imola gives me a lot of beautiful memories. As a student I worked as a volunteer in the paddock.
“That is nice to think back to. Whether they have a chance in the future depends on many variables. We will evaluate it, and we will first have fun on the track this week!” There will be no spectators at Imola.
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 209.20 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.
Key technical indicator have turned Very Bullish. The candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.
The Key support is strong at 209.08 and the Key resistance is at 214.85 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 instances of insider selling over the past yr that we have seen.
The stock is considered defensive in the sector.
Have a healthy week, Keep the Faith!