Ferrari (NYSE:RACE) Expanding Its Global Presence

Ferrari (NYSE:RACE) Expanding Its Global Presence

Ferrari (NYSE:RACE) Expanding Its Global Presence

$RACE, $FCAU

Ferrari (NYSE:RACE) is set to report Q-4 of  Y 2016 results before the market open on 2 February.

Last Quarter, the company delivered a positive earnings of 22.22%. Looking forward to seeing this announcement as Ferrari is expanding its presence worldwide.

Ferrari was until October 2015 a subsidiary of Fiat Chrysler Automobiles (NYSE:FCAU), the iconic car manufactures saw consistent revenue growth over the last 10 years, and has diversified revenue sources, it generates major revenues from the sale of luxury sports cars, engines and Ferrari brand merch.

And it owns The Scuderia Formula 1 racing team and Ferrari World theme parks.

The company expects total shipments of around 8,000 units for Y 2016, up from the  7,664 units shipped in Y 2015. This automotive volume increase should boost the company’s revenues and earnings.

Last July when the stock was a 40/share I called it a strong buy with a 60 target, I now believe it has room to grow. Ferrari is a Luxury brand.

We wait, we soon see…

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 62.14 1 February 2017 0.01 62.5 62.59 61.67 370,618
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Very Bullish (0.56) Very Bullish (0.58) Very Bullish (0.52) Very Bullish (0.58)

Stay tuned…

 

 

 

 

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.