F1: Ferrari (NYSE:RACE) Has the Right to Veto

F1: Ferrari (NYSE:RACE) Has the Right to Veto

#Ferrari #F1 #veto

$RACE

Ferrari is not like other F1 teams” — Paul Ebeling

Ferrari (NYSE:RACE) started with Formula 1 and financed this through the mass production of street cars.

Despite occasional threats, The Scuderia never turned its back on Formula 1.

F1 is not 1 of the many unit of Ferrari, but it is a very important element. When Bernie Ecclestone granted the right of veto to Enzo Ferrari in the 1980’s, he had this in mind.

Ferrari is a company that F1 can count on and that has huge value for those who manage the Top tier motorsport. Unlike, Honda, BMW, Toyota, MBZ, McLaren, F1 is a technical challenge for them, but they can quit at any time as we saw Honda do at the weekend, and BMW and Toyota do about 10 yrs ago.

For many years, other teams have tried to remove Ferrari’s veto. This happened again during the negotiations of the last Concorde Agreement, but was in vain.

Ferrari is The Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos

HeffX-LTN overall technical outlook for RACE is overall Bullish, the Key resistance is 184.34, Key support is at 178.57.

Our overall technical outlook is still Bullish, my long term Fibo number, a Key indicator is Very Bullish.

Ferrari finished Friday at 180.87, -3.73 in NY, and is trading at 185.09 pre-market in NY. It’s all time high was marked at 199.97 marked intraday Wednesday, 26 August.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value the long term as it becomes the world’s 1st Super Luxury brand.

Ferrari is a quality 1st long term luxury products investment, and I called it at it at 200+/share ATV (after the virus) and sided with BAML to 230 long term.

Thursday, 13 August I raised my long term target to 300, a Strong Bull call.

Ferrari has an average rating of “Buy” and an average target price at 194.33.

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 ATV and siding with BAML to 230 long term for now.

The stock is now considered defensive in the sector.

Have a healthy week, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.