Ferraris (NYSE:RACE) Strong in Road America GT America Qualifying

Ferraris (NYSE:RACE) Strong in Road America GT America Qualifying

#Ferrari

$RACE

The Squadra Corse Ferrari took a pair of competitive qualifying positions Saturday morning as the SRO GT World Challenge America entered the 2-H of the season at Road America (Elkhart Lake). The event is also the 1st to be open to race fans since the series’ March visit to Circuit of the Americas.

Pro-Am:  Martin Fuentes and Rodrigo Baptista will once again share the No. 1 Hublot/Ferrari of Ford Lauderdale/The Concours Club Ferrari 488 GT3, entering the weekend one point shy of the championship lead in the Pro Am division with 6 races over 3 weekends remaining.

Fuentes was fastest in the category in the opening Pro Am qualifying that set the field for the Saturday race, turning a lap of 2:08.254-secs, a time that was also good for 3rd overall on the classic 14-turn, 4.048-mile circuit.

Baptista took 3rd in Pro Am category and 5th overall in the 2nd qualifying session which will set the grid for the Sunday race. The Brazilian turned a lap of 2:06.224-secs. Baptista – fastest overall in both of Friday’s practice sessions – elected to save his tires during qualifying, turning only 2 laps at speed, thus preserving the rubber for the high-degradation surface of the Wisconsin-based circuit.

GT Sports Club. Mark Issa is a late entry in the GT Sports Club America division for the Road America weekend, driving the No. 31 TR3 Ferrari 488 GT3. GT Sports Club America runs concurrently during the opening 40 mins of each GT World Challenge America event. Issa was fastest in Friday practice, running a quick time of 2:11.659-secs.

Schedule: Sunday’s event is set to start at 2:15p CST

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 overall Very Bullish, the Key resistance is 195.15, Strong Support is at 187.84.

Our overall technical outlook is Very Bullish in here, as all Key indicators are Very Bullish.

Ferrari finished at 196.30, +0.79 Friday in NY, just off of its all time high at 199.97 marked intraday Wednesday, 26 August.

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC.

Ferrari will continue to create value 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 ATV (after the virus) and sided with BAML to 230 long term, then…

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

Ferrari has an average rating of “Buy” and an average target price at 194.33.

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 200/share short term ATV and siding with BAML to 230 long term for now.

The stock is now considered defensive in the sector

Have a healthy weekend, enjoy the racing.

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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 it 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.