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Thursday, May 6, 2021

Ferrari’s (NYSE:RACE) Financial Strength Will Continue to Grow



Ferrari (NYSE:RACE) the iconic Italian sports-car maker produced another stellar financial report this wk, the share price broke the Strong overhead resistance at 200 and long investors are happy.

Ferrari’s share price says it is classed as a luxury goods purveyor, rather than a car company, and involvement in F1 racing does not seem to have had any impact at all on Ferrari’s sales in the marketplace, if anything it is brand enhancement and super advertising overall.

The Ferrari share price has jumped by 15% since late October and it has scored a stunning 50% advance from the coronavirus chaos lows of about 104 in April.

Ferrari is The Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos

HeffX-LTN overall technical outlook for RACE is still overall Bullish, the Key resistance is at 199.14, the Key support is at 180.12.

Our overall technical outlook is Bullish, a Key indicators are Bullish long-term. Ferrari reports earnings for Q-3 on 3 November.

A live audio webcast and conference call of the Y 2020 Q-3 results was at 2:00p GMT / 3:00p CET / 9:00s EST Tuesday, 3 November.

For those unable to participate in the live session, a replay will remain archived on Ferrari’s corporate website (http://corporate.ferrari.com) for 2 wks after the call.

Ferrari finished trading Friday at 208 in NY. It’s all time high was marked at 208.94 marked intraday Friday, 6 November. All technical indicators are Very Bullish there is Strong support at 1.99.29, there is no overhead resistance.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, Morgan Stanley and Bank of America. UBS is not calling the stock at 365. And that is higher than our call at 300, so I am reevaluating our number.

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, and I called it at it at 200+/share and sided with BAML to 230 long term.

Thursday, 13 August I raised my long term target to 300, a Strong Bull call, the strongest on the Street.

Ferrari has an average rating of Buy and a consensus target price at 209.69.

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 230/share short term.

The stock is now considered defensive in the sector.

Have a healthy weekend, Keep the Faith!

Paul Ebeling
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.   

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