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Ferrari (NYSE:RACE) Ties Up with LoveFrom Ive & Newson

#Ferrari #LoveFrom

$RACE $EXO.MI

Ferrari (NYSE:RACE) has engaged Jony Ive and Marc Newson’s creative collective LoveFrom as it gears up for its 1st all-electric model. A wider collaboration with Ferrari’s holding company Exor “will explore a range of creative projects in the business of luxury”

LoveFrom, the creative collective founded by designers Sir Jony Ive and Marc Newson, is joining with Exor (EXO.MI), Ferrari’s holding company, for a long-term, multi-year partnership.

According to Exor’s announcement, “the first expression of this new partnership will bring together Ferrari’s legendary performance and excellence, with LoveFrom’s unrivalled experience and creativity that has defined extraordinary world-changing products”. 

The partnership represents LoveFrom’s 1st major project beyond Silicon Valley, a highly anticipated move from the creative collective.

Comprising designers, architects, musicians, filmmakers, writers, engineers and artists, LoveFrom was founded in Y 2019 after Sir Ive left the CDO role at Apple and began to work with Airbnb last year to design the sharing economy platform’s next generation of goods and services.

John Elkann, Chairman/CEO of Exor and Chairman of Ferrari declared “Soon after LoveFrom was founded, we began to talk with Jony and Marc about opportunities to combine their world-renowned creativity with ours in complementary and incremental ways. Ferrari represents a first exciting chance to do great things together as we build our future.”

 Ive and Newson: “As Ferrari owners and collectors, we could not be more excited about collaborating with this extraordinary company, and in particular with the design team, expertly led by Flavio Manzoni. We see some uniquely exciting opportunities of working together.”

The Ferrari partnership follows high-profile design collaborations by the iconic Italian carmaker.

In Y 2017, it celebrated its 70th anni with an exhibition ‘Under the Skin’, with 3D design by Patricia Urquiola; while the following yr saw the publication of a monograph, published by Taschen and enclosed in an aluminum engine-inspired case designed by Newson. An ambitious brand diversification project rolled out earlier this yr, with a fashion collection overseen by Rocco Iannone, formerly of Pal Zileri, and a new flagship store in Maranello, Italy, by Sybarite.

Ferrari has confirmed that it will launch its 1st all-electric car in Y 2025, anticipating the EU’s ban on new fossil-fuel cars from Y 2035. So LoveFrom is poised to make its mark on the Aristocrat carmaker at a historic moment.

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

Our overall technical outlook is still Bullish, a Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November and did the same for Q-4 and F-Y 2020 as reported on 2 February.

Ferrari finished Monday at 216.55 within its 52 wk range of 127.73 – 233.66 in NY. It’s all time high in NY was marked at 233.66 intraday on 29 December.

Key technical indicators are Bullish mid to long term. The candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key support is at 216.44 and the resistance is light through 216.88. The 24 September BE candle augurs the Very Bullish trend will continue. The stock is very oversold in here.

Friday, Morgan Stanley called out $RACE a “sleeper” EV play as the firm can justify more than 100% of the company’s value with its ICE business.

Note: At the beginning of Y 2020 I called RACE at 230 by year’s end, the stock was trading at 165.22 on 1 January 2020, on 29 December 2020 it marked 233.66 intraday, its all time high

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

UBS is now calling the stock at 365. I have not seen any other Street downgrades.

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, BAML raised its call to 270 long term.

I have raised my long term target to 375, a Strong Bull call, the strongest on the Street and am holding the mark during this recent profit taking, and seeing RACE as a buying opportunity.

Ferrari has an average rating of Buy and a consensus target price at 231.99.

The Maranello Outfit’s shares were raised downgraded from Buy to 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 am calling it 375 long term, the Top on the Street, and adjusting it to 250/share short term.

A number of large investors have recently bought shares of RACE, and there have been very few instances of insider selling over the past yr that we have seen. And Ferrari continues to buy back its stock in here.

The stock is considered defensive in the sector.

Have a prosperous day, 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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