#Ferrari #profit #SF90 #Roma
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.
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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