Scuderia Ferrari Mission Winnow (NYSE:RACE) announced Thursday that Carlos Sainz will drive for the team in the Ys 2021 and 2022 seasons of the F1 World Championship.
“We have embarked on a new cycle with the aim of getting back to the top in Formula 1. It will be a long journey, not without its difficulties, especially given the current financial and regulatory situation, which is undergoing a sudden change and will require this challenge to be tackled in a different way to the recent past.
We believe that a driver pairing with the talent and personality of Charles and Carlos, the youngest in the past 50 years of the Scuderia, will be the best possible combination to help us reach the goals we have set ourselves“.
Born in Madrid on 1 September 1994, Carlos has plenty of F1 experience, having taken part in 102 World Championship Grands Prix, over 5 seasons. In Y 2019, he finished 6th in the Drivers’ Championship, his best ever result, in a year when he also made it to a podium position for the 1st time, finishing 3rd in Brazil.
“I am very happy that I will be driving for Scuderia Ferrari in 2021 and I’m excited about my future with the team. I still have an important year ahead with McLaren Racing and I am looking forward to going racing again with them this season.”
Our overall technical outlook is Bullish to Very Bullish in here
Ferrari finished Wednesday at 154.76, -2.15 in NY.
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 not considered defensive in the sector.
Have a healthy day, Keep the Faith!