Ferrari (NYSE:RACE) has introduced several new vehicles in the past 12 months.
The Icona cars based on the 812 Superfast, F8 Tributo Berlinetta, SF90 Stradale gas-electric hybrid, and now is the perfect time to introduce not 1, but 2 spiders, the most romantic of all sports car designs.
1st, the central pillar of the Ferrari brand, the mid-engine V8 F8 Tributo. The Spider was developed in parallel with the berlinetta, ensuring the structure is robust and so handling precision high even though the roof structure is removed.
Open cars are not just about speed and performance, but the pleasure of driving in the open air. For some, the purity of the berlinetta will do, a purist approach to speed. For me an open car is the highest and most desirable of the sports car genre.
In Tributo Spider, we find the same 3.9-liter twin-turbo V8 and the same mechanicals of the Berlinetta, though the Top mechanism adds about 154 lbs. The V8 has virtually no lag, with maximum torque gushing at a low and easy 3250 rpm. From that point to the 8000 rpm redline, the engine has plenty of get up and go, 710 hp at the Top.
Tributo Spider will hit 60 mph in 2.9 secs, basically matching the berlinetta. From standing start, acceleration is primarily a function of tire traction and putting all that torque to the pavement.
This Spider has It!
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 Neutral to Bearish, overhead resistance is at 155.78 and support at 150.05 all Key indicators are flashing Bearish with a Bullish bias in here. Ferrari finished at 152.60, -1.84 Friday in NY.
Note: Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.” “We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published last month, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback (9.0% since July 16) as a good entry point in here.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame.
Have a terrific weekend