Ferrari (NYSE:RACE) has not shifted it iconic focus and the coronavirus chaos has not disrupted its plans to expand its model range this year, as it confirmed the 2 models it planned to introduce later in Y 2020 are on schedule.
“We are always planning to do more, and we intend to make news. We will launch 2 new models by the end of this year,” Enrico Galliera, Ferrari’s commercial Boss said Friday
He added that Ferrari is always looking at entering new segments of the market. “Potentially every segment is of interest to us, with the caveat that Ferrari is in the luxury sports car business,” he explained. And 1 is is Thoroughbred FUV due in Y 2022 earliest.
Mr. Galliera did not say more about the 2 new Supercars Ferrari will introduce this year, so we wait and rest assured you will learn about them soonest without and speculation.
Meanwhile, workers are returning to Ferrari’s 2 factories in Modena and Maranello, Italy.
Ferrari is the Aristocrat of the automotive sector.
HeffX-LTN overall technical outlook for RACE is Bullish to Very Bullish, there is Key resistance 167.05, and support is at 155.34.
Our overall technical outlook is Bullish to Very Bullish in here, 3 of my 3 Key indicators are now Very Bullish.
Ferrari finished at 156.35, -0.67 Friday 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!
