Valtteri Bottas took victory in a fascinating 2019 Formula One Japanese Grand Prix Sunday as MercedesAMG wrapped up the constructors’ championship for a 6th year running.
Ferrari (NYSE:RACE) claimed a 1-2 lockout on the grid in Sunday’s qualifying session, but Mr. Bottas jumped both Pole-sitter Sebastian Vettel and Charles Leclerc at the start before the latter collided with Red Bull’s Max Verstappen at Turn 2.
An action-packed start finished with Mr. Bottas 1st, Mr. Vettel 2nd and Lewis Hamilton 3rd, and after plenty of chopping and changing throughout the race, that is how they finished.
MercedesAMG secured their constructors’ title despite failing to get a 1-2 finish thanks to Mr. Hamilton’s bonus point for the fastest lap of the race.
They are also guaranteed the drivers’ championship this season because Messers Vettel, Leclerc and Verstappen are now all out the running
With 4 races remaining in Y 2019, the Mr. Bottass is 64 pts behind Mr. Hamilton, who remains on course for a 3rd consecutive world title.
F1 returns to North America in 2 weeks for the Grand Prix of Mexico, tune in.
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 to Bearish, overhead resistance is at 154.35, and support at 151.03 as Key indicators are Neutral with Bullish bias in here. Ferrari finished at 153.32, +3.17 Friday in NY.
Note: Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.” “We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published last month, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback since late July 16 has provided good entry point in here.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame
Have a terrific weekend.