Ferrari (NYSE:RACE) Expanding Its Global Presence
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…
|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)|
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