I am told that he V12-powered 812 Versione Speciale could debut as early as next wk.
Ferrari (NYSE:RACE) is known to be quietly serious in regards to new vehicle launches as the Maranello Outfit does not release teasers or even talk about upcoming products.
This modus operandi extends to its most faithful clienti, the 1%’rs hand-picked by Maranello to buy the limited edition Supercars, expect the run to be sold out on the date of the unveiling.
Even those who made it on the shortlist to claim the 812 VS have not seen the car yet, but this video message sent by Ferrari to potential customers announces an official premiere is nearby.
The video was shot at Enzo Ferrari’s office near the Fiorano track, the clip has made its way to us, and was sent to clients on 18 February, Enzo Ferrari’s birthday.
The 812 VS will probably be debuted in coupe form, with the Spider to arrive later this year.
Ferrari is The Aristocrat of the automotive sector.
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 is closed Friday 198.29 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.
All of our technical indicators have turned Bearish with a Neutral bias in here. Ferrari’s stock is very oversold, but the pattern still indicates the confirmation of the break out at 196.01 on 3 November and has confirmed.
The Key support is at 197.31 and the Key resistance is at 211.19 at the close Friday in NY.
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. Citi downgraded the stock from Neutral to sell. 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 243.60.
The Maranello Outfit’s shares were raised downgraded from Buy to Hold at HSBC Thursday.
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 has been just 1 instance of insider selling over the past yr that we have seen.
The stock is considered defensive in the sector.
Have a healthy week, Keep the Faith!