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F1: Ferrari (NYSE:RACE) Using Styrian GP as a ‘test’ to Solve Tire Issues


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Friday’s test action: “We’re approaching this as a bit of a test opportunity,” said Carlos Sainz, “because with six days of running in two weeks, it’s going to give us the opportunity to back-to-back a lot of data and we always have next week to correct the bad direction.

“But at same time we still want to optimize every weekend. We’re still fighting for P3 in the championship and we said right from the beginning that it’s going to be a mid to long-term issue to solve, not one race and we’re back… with the front tires.”

Charles Leclerc took P10 in FP1, before slipping to P13 in FP2 saying he was targeting an improvement in his 1-lap pace ahead of Saturday, while adding that he was keen not to repeat the “bad surprise” of Ferrari’s Paul Ricard race day performance this weekend.

We’ve been struggling quite a bit today with short-run pace,” said Mr. Leclerc. “The high-fuel runs were actually quite competitive compared to the others but we need to work on our Quali pace, which is normally the other way around since the beginning of the season.

“I think we’re know more or less where to work for improving the Quali pace so hopefully we’ll put everything together tomorrow for a better qualifying,” added Mr. Leclerc.

But it’s going to be difficult, because we’re not completely sure we’re in right window for Sunday’s race. In France we felt quite happy on Friday, but on Sunday we had a bad surprise, so it is very tricky at the moment.

But we’re working hard, and I feel like we’re in better shape for the race on Sunday. We need to work a little bit on the Quali pace and then we’ll be fine.”

F1 Stryian GP official details, click here.

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

Our overall technical outlook is still Bullish, a 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 closed Friday at 204.22 within its 52 wk range of 127.73 – 233.66 in NY. It’s all time high in NY was marked at 233.66 intraday on 29 December.

Key technical indicators are Bearish in here, but Bullish long term. The candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key support is at 202.03, and the Key resistance is at 206.22. The 16 June Doji candlestick augurs a return to the Very Bullish trend.

Note: At the beginning of Y 2020 I called RACE at 230 by year’s end, the stock was trading at 165.22 on 1 January 2020, on 29 December 2020 it marked 233.66 intraday, its all time high

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, and Buys at Morgan Stanley and Bank of America.

UBS is now calling the stock at 365. Citi downgraded the stock from Neutral to sell. I have not seen any other Street downgrades.

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

Ferrari is a quality 1st long term luxury products investment, BAML raised its call to 270 long term.

I have raised my long term target to 375, a Strong Bull call, the strongest on the Street and am holding the mark during this recent profit taking, and seeing RACE as a buying opportunity.

Ferrari has an average rating of Buy and a consensus target price at 231.99.

The Maranello Outfit’s shares were raised downgraded from Buy to 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 am calling it 375 long term, the Top on the Street, and adjusting it to 250/share short term.

A number of large investors have recently bought shares of RACE, and there have been very few instances of insider selling over the past yr that we have seen. And Ferrari continues to buy back its stock in here.

The stock is considered defensive in the sector.

Have a terrific F1 race weekend, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is 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.