“This new V12 SuperCar is based on GTC4 Lusso, featuring dynamic styling inspired by Ferraris of 1950s and 1960s” — Paul Ebeling
The SuperCar was designed as the newest coachbuilt 1-off project for 1 of the Italian firm’s “longstanding clients”
No performance details have been disclosed, but the car retains the 6.2-litre V12 and 4WD system of the GTC4 Lusso. In that model, the engine was tuned for 680bhp.
As with other luxury manufacturers, 1-off and limited-run coachbuilt projects are an increasingly lucrative revenue stream for Ferrari. Maranello once reported that it had a 5-yr waiting list for such projects.
Ferrari said the BR20 client was “deeply involved” in the creation of the car, although it has revealed no details of their identity. It also hasn’t given a value for the car.
Ferrari is The Aristocrat of the automotive sector.
Our overall technical outlook is still Bullish, all 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 Friday at 258.57, within its 52 wk range of 127.73 – 266.67 in NY just shy of its all time high.
Key technical indicators have turned Very Bullish across the board. The candlestick pattern indicated the confirmation of the break out at 196.01 on 3 November and confirmed.
The Key resistance is at 266,22, the Key support is at 256.59. All of our Key technical indicators are all Very Bullish in here.
Societe Generale places a Street high price target of $290 on RACE as compared to the average sell-side price target at 195.93. Most Street analysts still do not know how to view Ferrari.
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, an 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 186.31.
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 call 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 healthy, prosperous weekend, Keep the Faith!