“This Supercar is dedicated to a very exclusive group of collectors and enthusiasts of the most noble of Ferrari traditions“– Paul Ebeling
The Limited Edition Ferrari 812 variant that Ferrari revealed a couple wks ago did not have a name. Ferrari solved that problem today. We now know the mystery 812 will be named the 812 Competizione Aperta.
The Competizione A is fundamentally the same Supercar as the Competizione with a new bridge element between the flying buttresses that is designed to direct air toward the rear spoiler. This design is “essentially restoring the downforce to the same level as the 812 Competizione,” Ferrari claims. In addition to directing air, the bridge is also designed to reduce drag.
The all-important Ferrari V12 carries over from the regular Competizione to the A. The 6.5-liter V12 is making a whopping 818 horsepower and 510 pound-ft of torque in this latest version of the engine.
It revs all the way to 9,500 rpm. The 0-62 mph time is quoted at 2.85 secs, and Top speed at 211 mph, both of those are for the coupe, as Ferrari has not yet provided those specs for the Targa top A. Stay tuned…
Ferrari is The Aristocrat of the automotive sector.
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 Friday finished at 200.50 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.
Key technical indicators are now Neutral to Bearish. Though the candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.
The Key support is at 197.68 and the Key resistance is at 208.89 at the close Friday in NY. The 5 May homing pigeon candlestick indicates that the selling is likely over.
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 236.92.
The Maranello Outfit’s shares were raised downgraded from Buy to 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 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 weekend, Keep the Faith!