Home Business Ferrari’s (NYSE:RACE) Daytona SP3 the ‘Best of the Best’

Ferrari’s (NYSE:RACE) Daytona SP3 the ‘Best of the Best’

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#Ferrari #icona #Daytona #SP3

$RACE

“Red Dot Prestigious Design Awards Honors the Latest Edition to the Icona series” –Paul Ebeling

The words of Ross Brown: “When three Ferrari sports racers crossed the finish line side-by-side at the 24 Hours of Daytona in 1967, few could have imagined that the ripples of victory would still be reverberating over fifty years later. 

“It became one of the most iconic images in motor sport, and the word Daytona became not just a byword for Ferrari success, but the inspiration for the limited-edition Ferrari Daytona SP3. 

The mid-engine 6.5 litre V12 car joined the Icona series in November last year (which is also home to the Monza SP1 and SP2) and is based on the legendary sports racers of the sixties and seventies, including the famous 330 P4 which crossed the Daytona finish line that day in 1967″

The mid-engine V12 Ferrari Daytona SP3 is named after the historic 1-2-3 win at the 1967 24 Hours of Daytona race

This year the Ferrari Daytona SP3 followed in the footsteps of the FXX-K, the 488 GTB, the J50, the Portofino, the Monza SP1 and the SF90 Stradale.

These international accolades once again underline the work of the Ferrari Design Centre, headed by Flavio Manzoni, devising cutting-edge solutions that make the Maranello-based manufacturer’s cars unique without compromising that essential connection between aesthetics and functionality, a fundamental element of Ferrari’s DNA.

For more about the Daytona SP3 click here.

Ferrari is The Aristocrat of the automotive sector.

Ferrari is 1 of the most recognizable brands in the world, even becoming the world’s strongest luxury brand in Y 2021, according to Brand Finance. Its Brand Strength Index scored 93.9 pts out of 100 and has a brand strength of AAA+.

Our overall technical outlook is Very 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 Thursday at 218.09 within its 52 wk range of 127.73 – 275.30 in NY, down from its all time closing high at 275.30 on 22nd November.

Key technical indicator have a Very Bullish bias in here. The candlestick pattern indicated the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key resistance is at 237.63, the Key support is at 216.29, our Key technical indicators are now Very Bullish.

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.

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. MS’s new price target of $350 reps more than 35% Northside potential for shares and is above the average analyst 1 yr target is at 208.64.

MS automotive analyst says, “Longer term, we see scope for Ferrari to offer a range of EV products at potentially higher prices than the average selling price of today’s Ferrari, while leveraging economies of scale on higher volumes.

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 208.29.

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 Ferrari continues to buy back its stock in here.

The stock is considered defensive in the sector

Have a happy, prosperous weekend, Keep the Faith!

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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.