Ferrari (NYSE:RACE) is scheduled to announce Q-3 earnings results Monday, 4 November before the bell,
The consensus EPS Estimate is €0.86 (+11.7% ) Y-Y, and the consensus Revenue Estimate is €889.08M (+6.1% Y-Y).
Ferrari has surprised in the last 4 Quarters
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 Neutral to Bearish, overhead resistance is at N/A, and support at 155.30 as 3 of our 3 Key indicators have turned Very Bullish and the stock has established long term support.
Ferrari finished at 161.28, +1.26 Friday in NY.
Note: Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.” “We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published in September, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback since July 16 has provided good entry point in here.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame
Have a terrific week.