#Ferrari #earnings
Ferrari (NYSE:RACE) announced today that its financial results for the full year and fourth quarter of 2020 will be released on Tuesday, February 2, 2021.
A live audio webcast and conference call on the FY 2020 and Q-4 results will begin at 2.00p GMT / 3.00p CET / 9.00a EST Tuesday, 2 February.
Details for accessing this presentation will be available in the Investors section of Ferrari’s corporate website at http://corporate.ferrari.com prior to the event.
Note: Registering in advance is required to access the conference call details.
For those unable to participate in the live session, a replay will remain archived on Ferrari’s corporate website (http://corporate.ferrari.com) for 2 wks after the call.
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 Tuesday at 210.43 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 198.94, the Key resistance is 214.65. Ferrari’s stock is extremely oversold in here, and the pattern indicates that the 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 232.75.
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 day, Keep the Faith!
