#Ferrari #FUV #SUV #Purosangue #thoroughbred
“The 1st Sports Utility Vehicle, aka FUV, to wear the Ferrari brand will be revealed later this year”–Paul Ebeling
This teaser shows off the Purosangue’s aggressive front end. The slit-like headlights are similar to what is on the SF90 and SP3 Daytona, with an upper unit combined with thin lower LED strips. A black band in the angular shark nose runs between the headlights and contains a front camera, with Ferrari’s rectangular yellow badge mounted on the sculpted hood and the prancing horse logo centered in the lower grille.
Ferrari’s teaser microsite calls the Purosangue a “genuine game changer” and says that it will be fully revealed later this yr. Many rumors have swirled around about what powertrains the Purosangue will use; the 296 GTB’s plug-in-hybrid V6 is a likely option, but the SUV could also be available with a V8 option and maybe even a range-topping V12. It is also a candidate for a fully electric powertrain. Expect a starting price of around $300,000 when the Purosangue goes on sale next yr as a Y 2023 model.
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 Friday at 221.08 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 270.18, the Key support is at 221.00, 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 prosperous week, Keep the Faith!