Ferrari (NYSE:RACE) May Rejoin the Top HyperSupercars at LeMans

Ferrari (NYSE:RACE) May Rejoin the Top HyperSupercars at LeMans

#Ferrari #LeMans #HyperSuperCar #racing

$RACE

Ferrari (NYSE:RACE) could rejoin the Top of class of the World Endurance Championship with a road-based Le Mans Hypercar.

That is 1 of the options the iconic Italian manufacturer will begin to evaluate in the Fall as it considers a factory return to the Top flight of sportscar racing for the 1st time since Y 1973.

Antonello Coletta, who heads up Ferrari’s sportscar racing activities, told said Friday, that all the routes into the Top category will be under consideration.

All the doors are still open,” he said.

The interest in the Top class is still there and we are scanning all the opportunities, LMDh and LMH.”

Asked if Ferrari would look at both sets of LMH rules, those for road-based machinery and lookalike prototypes, he replied Yes.

The door on an entry into the LMP2-based LMDh category, announced for Y 2022 in January of this year appear closed.

Ferrari revealed an interest in the new class that will allow the same cars to race in the WEC and the IMSA SportsCar Championship in North America, though with a caveat.

Mr. Coletta insisted that the marque had to be able to build a car around its own chassis rather than using an LMP2 monocoque.

It’s request was not met by the rule makers (the FIA, WEC promoter the Automobile Club de l’Ouest and IMSA), when the draft regulations were released in May.

Mr. Coletta reiterated that the necessity that Ferrari builds its own chassis, to have what he described in February as a “total Ferrari“.

The most important question is whether we can have a link with a road car,” he said.

Having our own chassis is a must, and we will see in the future if it is possible to have a new Supercar.”

Coletta stressed that the coronavirus chaos had put a hold on the decision-making process.

After COVID we stopped everything because we had other priorities,” he explained

But I hope to restart discussions after the Le Mans 24 Hours in September.”

He laid down no likely timescale for a possible return to the Top of sportscar racing.

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 Key resistance is 195.93, Strong Support is at 189.51.

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

Ferrari finished at 195.02, +0.31 Thursday in NY, just off of its all time high at 199.62 marked intraday Tuesday.

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 weekend, Keep the Faith!

The following two tabs change content below.

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.