Ferrari (NYSE:RACE) insists that it has not disguised its pace in Winter testing in Spain, but does admit its car is better in race trim than on single lap pace.
The Maranello Outfit has been open that pre-season testing has not gone as well as it would have liked and thinks it is heading into the F1 season opener behind rivals MercedesAMG and Red Bull Racing.
But, the competitors believe that Ferrari is holding something back, and point to some strong race runs that the team was able to produce at Barcelona.
Asked about whether an obvious lack of straight line speed in testing pointed to the team holding back its full potential, team Boss Mattia Binotto said, “We are not hiding. That is our true performance.
“I think it’s difficult to split on the straights what is drag and what is power, but certainly we are down on speed compared to other competitors.
“I think that is affected by one way from the drag and the other from the reliability programme that we have in place.”
Boss Binotto said that the team was focused on improving the SF1000, with it lacking in overall performance.
“I think it is difficult to split on the straights what is drag and what is power, but certainly we are down on speed compared to other competitors.
“I think that’s affected by one way from the drag and the other from the reliability programme that we have in place.”
Boss Binotto said that the team is focused on improving the SF1000, with it lacking in overall performance.
“I think we need to still work on the balance of the car and the setup to optimize its overall performance around the racetrack,” he added.
“But generally speaking, we need to improve the base performance of the car, which is power, drag and downforce.
“There is no doubt and no discussion on that.
“If you look at the picture of the Winter testing I think we have got relative to the others a better, but doesn’t mean the best, race pace compared to the qualifying pace.
“I think we were suffering a bit more on qualifying simulation compared to the race simulations, and that is something on which we need again to understand, analyse and eventually address it.“
HeffX-LTN overall technical outlook for RACE is Neutral to Bullish, there is resistance 164.05 and Key support is at 151.98. As a double bottom was put in Friday at 152.18, 1 of my Key indicators has turned Bullish as the stock is very oversold in here.
Ferrari finished at 152.18, -2.01 Friday in NY.
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 and siding with BAML to 230 long term for now
Have a terrific weekend