Ferrari (NYSE:RACE) has reopened its factories in Maranello and Modena after a 2-month downtime with safety measures in place.
Shares of RACE have held up during the C-19 coronavirus chaos and are only off 3.35% since 1 January.
Our overall technical outlook is Very Bullish in here
Ferrari finished Tuesday at 158.25, -4.51 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 now considered defensive in the sector.
Have a healthy day, Keep the Faith!