Ferrari's (NYSE:RACE) Leclerc Finished 7th at Jeddah
#F1 #Ferrari #SaudiAribia #GP #Leclerc #Saintz #Hamilton #Verstappen
Charles16 passed Carlos55 on the last lap for P7 and P8. Well Done!
Lewis Hamilton wins the Saudi Arabian Grand Prix and takes the point for fastest lap.
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Lewis Hamilton took Pole, with team mate Valtteri Bottas 2nd for a MercedesAMG front row lock out, with Max Verstappen set to start 3rd providing the damage he suffered on the last lap of qualifying does not require changes that trigger a grid penalty.
Charles Leclerc was a brilliant 4th for Ferrari, ahead of the 2nd Red Bull of Sergio Perez, with Pierre Gasly continuing his fine qualifying form with 6th.
On the Grid
POS
NO
DRIVER
CAR
Q1
Q2
Q3
LAPS
1
44
Lewis Hamilton
MERCEDESAMG
1:28.466
1:27.712
1:27.511
23
2
77
Valtteri Bottas
MERCEDESAMG
1:28.057
1:28.054
1:27.622
25
3
33
Max Verstappen
RED BULL RACING HONDA
1:28.285
1:27.953
1:27.653
19
4
16
Charles Leclerc
FERRARI
1:28.310
1:28.459
1:28.054
24
5
11
Sergio Perez
RED BULL RACING HONDA
1:28.021
1:27.946
1:28.123
23
6
10
Pierre Gasly
ALPHATAURI HONDA
1:28.401
1:28.314
1:28.125
26
7
4
Lando Norris
MCLAREN MERCEDES
1:28.338
1:28.344
1:28.180
21
8
22
Yuki Tsunoda
ALPHATAURI HONDA
1:28.503
1:28.222
1:28.442
26
9
31
Esteban Ocon
ALPINE RENAULT
1:28.752
1:28.574
1:28.647
22
10
99
Antonio Giovinazzi
ALFA ROMEO RACING FERRARI
1:28.899
1:28.616
1:28.754
21
11
3
Daniel Ricciardo
MCLAREN MERCEDES
1:28.216
1:28.668
17
12
7
Kimi Räikkönen
ALFA ROMEO RACING FERRARI
1:28.856
1:28.885
18
13
14
Fernando Alonso
ALPINE RENAULT
1:28.944
1:28.920
17
14
63
George Russell
WILLIAMS MERCEDES
1:28.926
1:29.054
17
15
55
Carlos Sainz
FERRARI
1:28.237
1:53.652
16
16
6
Nicholas Latifi
WILLIAMS MERCEDES
1:29.177
9
17
5
Sebastian Vettel
ASTON MARTIN MERCEDES
1:29.198
10
18
18
Lance Stroll
ASTON MARTIN MERCEDES
1:29.368
9
19
47
Mick Schumacher
HAAS FERRARI
1:29.464
9
20
9
Nikita Mazepin
HAAS FERRARI
1:30.473
8
Ferrari is The Aristocrat of the automotive sector.
Ferrari finished Friday at 258.81 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 261.24, the Key support is at 258.18. 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.
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 202.71.
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 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.
There is F1 racing in Saudi Arabia Sunday, click here for the official schedule.
Have an enjoyable racing weekend, Keep the Faith!