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F1: Leclerc 50/50 after Missing Ferrari’s 1st Win since 2019

#Ferrari #F1 #Leclerc #Silverstone

$RACE

Sunday at Silverstone: It looked like the stars aligned and Ferrari would win on the 70th anni of their 1st F1 victory in Y 1951. But, in the end Charles Leclerc had to settle for 2nd place behind Lewis Hamilton, saying afterwards that he gave “200%” in the fight for 1st.

Having to start 4th, Mr. Leclerc found himself in the lead when the Red flags flew early in the race, gaining from the Verstappen and Hamilton stint at the Copse Corner.

Mr. Leclerc held onto the lead following the race restart, despite fighting both an engine issue and heavy pressure from Lewis Hamilton, and succumbed with 3 laps to go after the MercedesAMG driver had roared back.

“I am feeling 50% frustration, 50% happiness. Obviously going into this weekend there was absolutely no hope of fighting for a win here at Silverstone. So this shows how great a job we are doing as a team. It’s not an easy situation for the team, but the team is working extremely well.

We have shown that today with this second place and we’ve got to keep on working because that’s what we want to do consistently, fight for the win.”

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 206.89 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 Bullish mid to 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 200.58 and the Key resistance is now at 207.24. The 16 July 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. 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 happy, healthy weekend, Keep the Faith!

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 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.   

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