F1: Ferrari (NYSE:RACE) Will Work Hard to Mitigate the Impact of the C-virus on the Season

F1: Ferrari (NYSE:RACE) Will Work Hard to Mitigate the Impact of the C-virus on the Season

$RACE

Ferrari (NYSE:RACE) F1 Team Boss Mattia Binotto says The Scuderia is amenable to any schedule that is proposed by other F1 bosses as they seek to mitigate the impact of the coronavirus crisis on the season.

To date 9 Grands Prix have have been postponed or cancelled because of the medical crisis, leading fans to speculate that the F1 calendar will be set up to include 2-race weekends.

With the season on hold until the end of June earliest, F1, the FIA and the teams are in regular contact to discuss when, where and how the campaign can start, and Boss Binotto says Ferrari is open to suggestions.

I am pretty sure Chase and the teams will be capable of putting together the best championship we can have,” he to motorsport journalists Thursday.

From our side, we are ready for whatever is needed whether short race weekends, double races, whenever it will finish or packing the races together.

It is important to be flexible and making sure we can have good races as well for the fans.

Speaking on F1 and the finances, Boss Binotto said: “Certainly it is a concern. We are fully aware of the difficulties of some teams and we are fully aware we need to address costs for the future of F1 reducing costs is the 1st driver of making sure each single team is surviving.

We are discussing a budget-cap reduction but we should not forget in doing that exercise that we’ve got different structures and different assets.

There are teams which are constructors like Ferrari and other Top teams where we are designing, developing, homologating and producing each single component. I think we should avoid being emotional at the moment.”

Ferrari is the Aristocrat of the automotive sector.

The Maranello Outfit will hold its annual shareholders meeting 16 April in Amsterdam.

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 Neutral, there is Key resistance 167.47, and support is 154.84, 1 of my Key indicators turned Very Bullish, our overall technical outlook is Bullish at the week ended 9 April 2020.

Ferrari finished at 157.04, +3.03 Thursday 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.

Have a happy healthy Easter and Passover weekend, stay home, Keep the Faith!

 

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