Home 2020 Ferrari (NYSE:RACE) Expects at Least EUR 1-B Profit in 2020

Ferrari (NYSE:RACE) Expects at Least EUR 1-B Profit in 2020


#Ferrari #profit #SF90 #Roma


Ferrari (NYSE:RACE) narrowed the range of its full-year profit guidance toward the lower end after the Supercar-maker was forced to shutter factories for 7 wks because of the C-19 coronavirus chaos.

The luxury carmaker’s decision to adjust the range shows that even the world’s most iconic brands are feeling the impact.

But, the maker of very expensive, high-performance automobiles has performed better than all other producers in the sector.

Ferrari management is confident of a bounce-back in 2-H of this year thanks to its strong order book.

The impact on suppliers also forced Ferrari to delay the full production of its next profit winner, the SF90 Stradale.

The company introduced a record 5 new models in Y 2019, including the Roma Coupe, with a mid-front-mounted 620-horsepower engine. That helped it boost sales to more than 10,000 units a year for the 1st time.

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

HeffX-LTN overall technical outlook for RACE is overall Very Bullish, the resistance is light at 188.54, Key Support is at 183.54.

Our overall technical outlook is Bullish in here, as all Key indicators are Very Bullish.

Ferrari finished at 185.51, -0.94 Tuesday in NY, just shy of its intraday all time highs at 189.26 marked on 3 August 2020.

The Maranello Outfit’s shares were raised to Buy from 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 have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now. The stock is now considered defensive in the sector.

Have a healthy day, Keep the Faith!

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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.