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Ferrari (NYSE:RACE) to Unveil its New LE Special Series Supercar on 5 May

#Ferrari

$RACE

A new LE Special Series Ferrari has been revealed, with a 830cv V12 and unmatched performance, the anticipation and excitement for this Limited Edition Berlinetta happened because of 2 iconic predecessors.

Ferrari’s LE Supercars concentrate the technical innovations: engine performance, aerodynamics and vehicle dynamics that are central to Ferrari’s core, to deliver track levels of performance on the road.

The 1st such LE Special Series model was the Ferrari 599 GTO, revealed in Y 2010. Befitting the legendary status of this 12-cyl berlinetta, it was at the time Ferrari’s fastest ever road car.

Then in Y 2015, Ferrari’s 2nd LE Special Series V12 was unveiled, the F12tdf. And it too was the ultimate expression of an extreme road car that is equally at home on the track, and the innovations created a berlinetta that was 2nd to none in terms of acceleration, road holding and agility.

The exclusivity of such technological performance was assured with the limited availability of only 599 examples of the 599 GTO, and 799 F12tdf models, all of which were sold to Ferrari clienti before they were shown publicly. Both the 599 GTO and F12tdf were named to pay homage to legendary vehicles and races in the Prancing Horse’s illustrious past.

The GTO (Gran Turismo Omologata) name instantly calls to mind 2 Ferraris: the 250 GTO, which swept the boards in GT racing in the 1960’s, and the iconic 1984 GTO that essentially invented the modern Supercar lineage.

The F12tdf, it paid homage to the Tour de France, the legendary endurance road race that Ferrari dominated in the 1950’s and 60’s.

The name of the new LE Special Series Ferrari along with the details of its performance attributes will be unveiled on 5 May. Stay tuned…

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 Wednesday at 214.75 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 have turned Very Bullish. The candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key support is strong at 211.02 and the Key resistance is at 233.66 at the close Wednesday in NY.

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 243.60.

The Maranello Outfit’s shares were raised downgraded from Buy to Hold at HSBC Thursday.

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.

The stock is considered defensive in the sector.

Have a healthy day, 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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