Ferrari (NYSE:RACE) launched the “Installation Lap” phase, safety training primarily for employees involved in the resumption of production from Monday, 4 May.
The Company has dedicated several days to this crucial phase. It has decided to put before the start of production the training sessions for workers, in particular, on the best precautionary measures to take against any health risk, in line with the “Back on Track” program.
The Company will provide checks at the entrances to the workstations, PPE and rules for sharing common areas. It has reorganised its environments and has provided the best tools to its staff for a smooth and safe return to work.
For example: workers are offered voluntary serological tests before going back to work.
In line with the government’s recent indications, Ferrari has gradually restarted its Maranello and Modena plants Monday, 4 May. They will return to full production on Friday 8 May.
Over the coming weeks, all business activities that can be carried out through remote working will continue as usual in this way.
Our overall technical outlook is Nutral to Bullish in here
Ferrari finished Friday at 148.99, -6.63 in NY.
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 (after the virus) and siding with BAML to 230 long term for now.
Have a healthy weekend, Keep the Faith!