“The new car has completed 2 days of testing at Ferrari’s Fiorano race track”–Paul Ebeling
Ferrari’s (NYSE:RACE) campaign to return to Le Mans is far from over. The Prancing Horse has less than a yr to get its race car in shape, and development is now fully underway.
Last wk, Ferrari took the LMH racer to Fiorano for its initial shakedown and to begin the car’s development program. The automaker captured the car’s 1st outing on video and shared it with the world.
The highly stylized clip features a lot more emotion than last week’s spy video that captured the car on the track. The car underwent two days of testing, and Ferrari has already planned for additional track time. The video shows Ferrari continuing to hide the LMH race car under a tight-fitting camouflage wrap, and the quick edits make it challenging to focus on specific design aspects.
Ferrari is The Aristocrat of the automotive sector.
Ferrari is 1 of the most recognizable brands in the world, even becoming the world’s strongest luxury brand in Y 2021, according to Brand Finance. Its Brand Strength Index scored 93.9 pts out of 100 and has a brand strength of AAA+.
Our overall technical outlook is still Bullish, all 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 announced today that its financial results for Q-2 of Y 2022 will be released on Tuesday, August 2, 2022.
Ferrari trades at a 60%+ premium to luxury brands, but at a discount to leader, Hermes, as it has more opportunity to grow via: new customers, new segments and geographically in China & Asia-Pac with its world renowned brand and a 12+ month customer orderbook.
Have a prosperous weekend, Keep the Faith!