Scuderia Ferrari (NYSE:RACE) Leaves Germany’s Nürburgring with a 7 and 11th Place

Scuderia Ferrari (NYSE:RACE) Leaves Germany’s Nürburgring with a 7 and 11th Place

#Ferrari #Scuderia#F1 #EifelGrandPrix #Leclerc #Vettel

$RACE

Scuderia Ferrari (NYSE:RACE) leaves Germany’s Nürburgring circuit with a 7 and 11th place in the Eifel Grand Prix for Charles Leclerc and Sebastian Vettel respectively.

The SF1000 racer was not as competitive in the race as it was in qualifying.

Fightback. The early tire change meant Mr. Leclerc was now on a 2 stop race. With 15 laps remaining, the Safety Car came out after Lando Norris park his McLaren on the track’s sideline. At the restart, yielded 6th place to Pierre Gasly in the Alpha Tauri to finish the race in 7th spot.

Sebastian Vettel. With a free choice of tires, he opted for Mediums at the start, after which he lost a place to Antonio Giovinazzi in the Alfa Romeo. As he tried to pass him, he lost control at Turn 1 and had to pit. He took on Hards on his SF1000, but they would not go the distance and so he came in for a final set of new Softs, which got him in a fight with Kevin Magnussen having to settle for 11th behind Mr. Giovinazzi.

Tribute. Lewis Hamilton won the race equalling Michael Schumacher’s record of 91 GP victories. To mark the occasion, Michael’s son Mick presented Mr. Hamilton with 1 of his father’s helmets.

Charles Leclerc #16

“7th is the best we could do today. On the soft tres at the beginning we really struggled, which compromised our race. We had a lot of graining so we were very slow and lost several positions. So we went for a 2-stop strategy, which I believe was the right thing to do.

On the medium tire it went well and we did some good overtaking which is always fun. It was very tricky after the safety car period towards the end of the race, because I had to do the restart on old tires and it was very cold, but I think we managed pretty well. I am happy with the overall improvement we have seen in recent weeks. We are not yet where we want to be, but every small step is going in the right direction and this is what we need.

Sebastian Vettel #5

I would have liked to bring home some points, but generally, I was struggling too much with the tires. I think the start was not bad. I was on the Medium compound and only lost 1 place to Giovinazzi in the Alfa Romeo. However once my tires were at the right temperature I was stuck behind him and I was struggling to pass him. I probably took too much of a risk and damaged my tires. I was obliged to pit and after that it was very difficult to fight back.

With the Safety Car at the end we thought there was a chance for points, we fought with Magnussen and I also tried to pass Giovinazzi. In the end we just were not able to pick up the last point. It was a difficult day.”

Mattia Binotto Team Principal

It was a tough race today, mainly down to getting the tire temperatures into the right operating window. That was particularly the case with Charles who, after a good start, began to suffer with graining on the Softs, right from the 1st few laps, which meant he was unable to push as hard as he would have liked. We therefore had to pit him earlier than planned, immediately switching him to another strategy. Then, in the closing stages, when it would have been possible to pit under the Safety Car, we took the joint decision to leave him out on the Mediums, given what we had seen in the early stages of the race.

As for Sebastian, the spin early on compromised his race and from then on, there was little to be done, even in the final laps when he was running the Softs.

Of course, we are not satisfied with this result, but we continue to work on improving our overall performance level. We saw signs of progress in qualifying, but the important thing is that the updates we are introducing seem to be going in the right direction, especially looking ahead to 2021. In the light of this, we should also have a few updates for the next race in Portimao.”

Race highlights

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 Bullish, the Key resistance is 183.04, Key support is at 175.27.

Our overall technical outlook is Neutral with a Bullish bias, a Key indicator is Very Bullish.

Ferrari finished Friday at 182.84, +1.52 in NY, and is trading at 185.09 pre-market in NY. It’s all time high was marked 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.

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 holiday weekend, Keep the Faith

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