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Ferrari’s (NYSE:RACE)F8 Spider, Super Styling and Performance (Video)

#Ferrari

$RACE

Designed by the Ferrari Style Center, the F8 Spider continues that approach begun with the F8 Tributo, which tends to represent a new design language, always strongly oriented towards sportsmanship and functional to aerodynamic performance.

With what may be the sexiest body Ferrari created in its own design studio, the F8 Spider draws inspiration from another Prancing Horse that ruled the road from the mid-1970’s to the mid-1980’s; the iconic 308 GTS.

Compared with its predecessor the 488, the Ferrari F8 Spider feels more harmonious with crisp, more predictable road manners. Still, like all Supercars, especially those bearing the Ferrari badge, it is the engine that sets the tone for the whole car. And what an engine this twin-turbo V8 is. It gives a sense of unbridled excitement and unrelenting immediacy that makes it one of the most potent, Super high performance convertibles money can buy now.

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

Our overall technical outlook is still Bullish, a 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 closed Thursday at 203.95 within its 52 wk range of 127.73 – 233.66 in NY. It’s all time high in NY was marked at 233.66 intraday on 29 December.

A Key technical indicator has turned Very Bullish. Ferrari’s stock is still very oversold in here, but the pattern still indicates the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key support is strong at 196.76 and the Key resistance is at 210.84 at the close Friday in NY.

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, its 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. Citi downgraded the stock from Neutral to sell. 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 243.60.

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

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 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.

The stock is considered defensive in the sector.

Have a healthy day, Keep the Faith!

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 is 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.   

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