Ferrari (NYSE:RACE) broke out on 23 July at 212.11 and confirmed on 9 August at 222.12. Thus, garnering a Strong LTN Cash Pile Buy signal with a long term target at 375, as Ferrari will continue to create value in the long term, it is the world’s #1 Super Luxury brand.
The Street consensus is 231.52/share.
All of our technical indicators have turned Very Bullish across the board. The support is deep and there is no resistance.
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars.
The company offers sports, GT, and special series cars; limited edition hypercars; one-off and track cars; and Icona cars.
It also provides racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
In addition, the company licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; Ferrari World, a theme park in Abu Dhabi, the United Arab Emirates; and Ferrari Land Portaventura, a theme park in Europe.
Plus, it provides direct or indirect finance and leasing services to retail clients and dealers; manages race tracks, as well as owns and manages 2 museums in Maranello and Modena, Italy; and develops and sells a line of apparel and accessories through its own stores.
As of 31 December 2020, it had a total of 36 retail Ferrari stores, including 18 franchised stores and 18 owned stores.
The company also sells its products through a network of 168 authorized dealers operating 188 points of sale worldwide, as well as through its Website, store.ferrari.com.
Ferrari N.V. was founded in Y 1947 and is HQ’d in Maranello, Italy.
Have a prosperous day, Keep the Faith!