The all-new Ferrari (NYSE:RACE) Portofino is a super-GT without equal now. We know that Ferrari does not like acceleration tests, but it should like this 1.
The Portofino is the successor to California, which was criticized at 1st, but matured into a good entry-level Ferrari.
Hidden under the elegant functional bodywork is a brand new platform, lighter yet more rigid than the old California T. The Portofino has 2 more seats and a larger trunk.
The Portofino sports the 3.9-liter V8, a bi-turbo which in this setup makes 600 hp and 760 Nm of torque (560 lb-ft).
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 Bullish, there is resistance 176.62, and Key support is solid at 169.46, the stock has established strong long term support. The MACD is Very Bullish in here.
Ferrari finished at 172.79, -5.06 Friday in NY.
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 and siding with BAML to 230 long term for now.
Have a terrific weekend.