It has been 2 yrs since F1 last raced in the Principality of Monaco, due to the 2020 Grand Prix being canceled due to the VirusCasedemic.
Now, the most famous Gran Prix in F1 is back, and the drivers could not be more excited.
For some, it’s the return of an old friend. For others, it will be their 1st run around the oversized street track that we call the Circuit de Monaco. This Gran Prix is entering its 78th Edition, many F1 drivers have shared their thoughts on the racing.
This is what we hear from Ferrari’s lead ‘shoe’ Charles Leclerc
Mr. Leclerc is the only Monegasque on the grid. In Y 2018, he made his F1 Monaco debut with Alfa-Romeo and failed to finish. For Y 2019, he raced the course Ferrari, and crash damage would force him out again.
This year he was very humble and optimistic, telling us: “We are not yet where we want to be. We want to be fighting for first place on Sunday by making everything perfect. But I am really looking forward to Monaco. Obviously, it is a very special weekend for me, a weekend where I have not been very lucky in the past so I hope we can have a good weekend as a team.” – Charles Leclerc
Carlos Sainz says he is still working to build his confidence with the start system on Ferrari’s F1 racer after struggling off the line in Spain.
Ferrari team principal Mattia Binotto is hopeful the team can maintain its low-speed advantage over McLaren when F1 races around the streets of Monaco this weekend.
Assessing his team’s chances ahead of the Monaco GP, Boss Binotto said: “I think it’s a very specific circuit. Yes, obviously having good downforce here in the last sector gives you a good feeling and it puts you in a good state of mind going to Monaco because, for sure, you prefer to be quick in sector three in Barcelona.
“And at the same time Monaco then has a lot of specifics of car set up, tire preparation for qualifying. The cars are so different in Monaco that it could change a bit the picture, what we need to focus now is in keep learning from what we learned this weekend, try to put together the best possible plan, the best possible setup for Monaco and we try to maximize our performance there.
“But yes, I will keep it cautious just to see how it goes there with very different cars and setups.”
Ferrari is The Aristocrat of the automotive sector.
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, finished Tuesday trading at 203.58 +1.93 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 now Neutral to Bullish. Though the candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.
The Key support is at 202.62 and the Key resistance is at 210.03. The 14 May DOJI candlestick augurs a move further North.
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.
Get up to speed with everything you need to know about the 2021 Monaco Grand Prix, which takes place over 78 laps of the 3.337-kilometre Circuit de Monaco in Monte Carlo on Sunday, 23 May. Using the links inside you can find the full weekend schedule, including details of practice and qualifying sessions, support races, press conferences and special events, plus the latest news headlines, circuit information and F1 race results.
Have a healthy day, Keep the Faith!