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Ferrari (NYSE:RACE) Awarded 3-Stars in the FIA Environmental Accreditation Program

#Ferrari #environmental #sustainability,

$RACE

The FIA’s program aims at helping Key players in the motorsport and automotive sector measure and enhance their environmental performance by means of an independent certification process. 

The FIA Environmental Accreditation Program is based on existing best practices in environmental sustainability, primarily the ISO 14001.

Ferrari, who were previously awarded the certification in Y 2001 with a renewal in Y 2016 to comply with the latest ISO 14001:2015 standards have continued to press forward to achieve the three-star level, the highest level of accreditation. 

Over the yrs, Ferrari has strived to lower energy consumption and minimize its environmental impact by adopting innovative solutions and using renewable sources at manufacturing facilities. This result can be attributed, among others, to meticulous management of energy requirements, 81% of which was covered by Maranello’s trigeneration system, while almost 99% of the remaining energy was purchased from certified renewable sources.

Ferrari’s commitment to reducing the environmental impact is not new and has already produced noteworthy results. By Y 2020, the Maranello Outfit had achieved its goal of reducing the CO2 emissions of its European fleet by an estimated 35% compared to Y 2007 levels.

Another, even more ambitious goal now awaits Ferrari: to become a carbon neutral company within the decade through a series of actions aimed at reducing our GHG emissions produced and, when unavoidable, offsetting the residual ones. This further decisive step towards sustainability will begin this yr with a certification to measure our carbon footprint.

Scuderia Ferrari Mission Winnow is also at the forefront of our commitment to environmental sustainability, sharing with F1 and all the other top-level motorsport stakeholders, the goal of becoming a Net Zero Carbon sport by Y 2030.

An integral part of this is the support from partners of the Scuderia. One example is the collaboration with Shell. Since the recent Emilia-Romagna Grand Prix, the fuel used to power the generators required for track operations has been made up of 60% renewables and 40% GTL (gas-to-liquid). Thanks to the use of this fuel, the level of emissions produced by previous generators will be halved, while any unavoidable emissions will be offset using natural solutions that reduce the carbon intensity of the energy produced. 

Felipe Calderón, President of the FIA Environment and Sustainability Commission: “We are delighted to see that Ferrari has a strong commitment to environmental sustainability, and we recognize this with the highest level Three-Star FIA Environmental Accreditation. We are confident that this will act as a catalyst for more changes throughout Formula 1, motor sport and automotive mobility as a whole as part of the #PurposeDriven movement launched by the FIA. 55 accreditations have already been awarded since the beginning of the FIA Environmental Accreditation Programme and it is a great achievement.”

Mattia Binotto, Scuderia Ferrari Mission Winnow Managing Director and Team Principal: “Achieving the three stars in the FIA Environmental Accreditation Programme is an important acknowledgement for Ferrari. The issue of environmental sustainability is becoming more and more of a priority in motor racing. It is a commitment that we feel strongly about as a Scuderia, both in our day-to-day activities – as evidenced by the two projects that we implemented in early 2021 – as well as over the long term. Formula 1 has now reached a very high technological level in terms of power unit efficiency, and we are working hard, alongside the FIA, Formula 1 and the other car manufacturers involved in defining the regulatory framework for the future, with the aim of transferring the best on-track solutions onto road-going cars, a fundamental component in Ferrari’s DNA.” 

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 206.05 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 Bearish in here, but Bullish 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 200.65, and the Key resistance is now at 207.35. The 29 June 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. 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.

Have a positive 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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