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Ferrari (NYSE:RACE) Pays Tribute to Sicily’s Targa Florio (Video)

#Ferrari #Sicily #TargaFlorio

$RACE

This year’s Tribute to Targa Florio did not disappoint, giving Ferrari fans unforgettable experiences.

Run since Y 1906, Targa Florio was held again in Y 2020, and despite the chaos we find ourselves in, as many as 100 teams showed up. 

There were 50 Ferraris entered in this, a beloved events for Ferrari drivers, who have the chance to retrace the same mythical Sicilian roads where champions like Juan Manuel Fangio, Arturo Merzario and Nino Vaccarella ran full out.

The Tribute offered participants a unique driving experience, plus an opportunity to visit houses and other sites of great historical and artistic value, not to mention to dine on the island’s cuisine.

On Friday 16 October, the 1st stage from Palermo took the teams along an enchanting road through the salt pans, towards Trapani, then stopped in Marsala, where the Cantine Florio winery hosted a special lunch in the tunnels of tuff stone, above cool, silent vaults where the wine is left to age. In the afternoon the route went along the coast to Mazara del Vallo, then returned to Palermo down the winding roads of the island’s hinterland.

After the day’s events, the Ferrari fans were welcomed with a dinner in the sumptuous salons of the Palazzo Artale Tumminelli.

Next day, drivers were challenged on the historic Targa Florio route, with its tricky ups and downs through the Madonie mountains.

There was an unforgettable night waiting for them in Piazza di Monreale, a dinner in a most enchanting place, the shadow of the Byzantine Cathedral of Santa Maria Nuova.

On Sunday, the traditional award ceremony took place in the gardens of the 16th Century Villa Tasca, in the shade of lemon groves and centuries-old trees, interspersed with lush tropical plants a unique setting and a worthy celebration of yet another Tribute to Targa Florio to remember.

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 Bullish, the Key resistance is at 191.87, there is Strong support is at 185.91.

Our overall technical outlook is Bullish with a Very Bullish bias, a Key indicators are flashing Very Bullish long-term.

Ferrari finished Friday at 189.87, -0.13 in NY. It’s all time high was marked at 199.97 marked intraday Wednesday, 26 August.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, Morgan Stanley and Bank of America.

Ferrari will continue to create value in 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.

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.

There is F1 racing this weekend in Portugal, tune in for the race Sunday.

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Have a healthy weekend, Keep the Faith!

 

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 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.   

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