Ferrari (NYSE:RACE) Former President, Luca di Montezemolo Talks About ‘The Ferrari of Schumacher’

Ferrari (NYSE:RACE) Former President, Luca di Montezemolo Talks About ‘The Ferrari of Schumacher’

#Ferrari #F1 #hybrid #powerunit

$RACE

Former Ferrari (NYSE:RACE) President Luca di Montezemolo, 72 anni, is taking 1 for The Scuderia, saying that he deserves some blame for the Maranello Outfit’s disappointing 2020 F1 season.

He was sacked from his post at Monza in Y 2014 the year when F1’s controversial hybrid power unit regulations were introduced

I was President when it was decided to switch to hybrid,” Mr. Montezemolo told Italian media. “I accepted because the green turning point in the industry was also a necessity for racing. But I underestimated the Italian deficit even ours, even Ferrari’s in terms of technology that was not part of our cultural background.”

Congratulations to those who have proved stronger, but it is precisely for this reason that I say we must look ahead.

Ferrari’s Chairman, John Elkann, said recently that it will be Y 2022 before the iconic Maranello Team can think realistically about winning F1 races again.

I do not like setting dates,” Mr. Montezemolo said. “It makes no sense and it is not fair on the fans, who have the right to hope for a turnaround in a shorter time. Ferrari must make choices necessitated by a crisis so deep. At least there is the driver guarantee, as Leclerc has already shown that he is a top driver.”

Mr. Montezemolo said he backs current team principal Mattia Binotto, who is under severe pressure as Ferrari’s team boss.

Binotto is 1 of mine,” he said. “I often repeat that he needs to be supported. He cannot be left alone. I know very well that F1 has changed a lot, it is no longer what it was 20 or 10 yrs ago. But 1 thing that has remained the same is that when a team is in trouble, it must protect its men while adding the skills they need from the outside.”

“The Ferrari of Schumacher was not just Schumacher,” Mr. Montezemolo said. “We had the #1 group in all the areas. From Jean Todt to Ross Brawn, from Stefano Domenicali to Paolo Martinelli to Rory Byrne. And despite their skill we suffered for years before being able to celebrate.

Ferrari is currently 3rd in the F1 Constructors’ standings with 55 pts. Mercedes leads with 180, while Red Bull Racing is 2nd with 113. McLaren (53) and Racing Point (41) trail Ferrari.

Ferrari’s last Formula 1 Constructors’ Championship came in Y 2008

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 Nil, Key Support is at 186.78.

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

Ferrari finished at 197.19 +2.89 Monday in NY, just shy of its all time intraday high at 198.55 marked earlier Monday.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value the long term as it becomes the world’s 1st Super Luxury brand.

Ferrari is a quality 1st long term luxury products investment, and I called it at it at 200+/share ATV (after the virus) and sided with BAML to 230 long term, then…

Thursday, 13 August I raised my long term target to 300, a Strong Bull call.

Ferrari has an average rating of “Buy” and an average target price at 194.33.

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 ATV 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 Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it 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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