#Ferrari
Ferrari (NYSE:RACE) announced Friday the following corporate calendar for Y 2021:
Earnings Releases
2 February 2021 – Group results for Q-4 and F-Y 2020
4 May 2021 – Group results for Q-1 Y 2021
2 August 2021 – Group results for Q-2 Y 2021
2 November 2021 – Group results for Q-3 Y 2021
A conference call for financial analysts is also planned on the date of each earnings release.
Listen only live webcasts of the presentations as well as related materials will be accessible on the Company’s corporate website (http://corporate.ferrari.com).
The Annual General Meeting for the approval of the Company’s 2020 financial statements is scheduled for 15 April 2021.
The Y 2021 corporate calendar is also available on the Company’s corporate website.
The Calendar is consistent with the Company’s practice of providing Quarterly financial information.
Ferrari is The Aristocrat of the automotive sector.
HeffX-LTN overall technical outlook for RACE is overall Bullish, the Key resistance is at, the Key support is at .
Our overall technical outlook is still Bullish, a Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November.
Ferrari finished trading Thursday at 229.52, -0.17 against it 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.
All technical indicators are Bullish the Key support is at 214.84, the Key resistance is 233.59. Ferrari’s stock is extremely oversold in here, and the pattern indicates that all of the year end profit taking is 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, it all time high
The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, Morgan Stanley and Bank of America. UBS is now calling the stock at 365. Citi downgraded the stock from Buy to Neutral Thursday. 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 the profit taking this week. Seeing RACE as a buying opportunity.
Ferrari has an average rating of Buy and a consensus target price at 219.80.
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 am calling it 375 long term , the Top on the Street, and adjusting it to 230/share short term.
A number of large investors have recently bought shares of RACE, and there is no insider selling.
The stock is considered defensive in the sector.
Have a healthy weekend, Keep the Faith!
