#Ferrari #Maranello #IlCavallino #Restaurant #Bottura #luxury
$RACE
Food by 3X Michelin starred Chef Massimo Bottura will be served next to Ferrari engines when the car company relaunches the restaurant in Maranello where founder Enzo Ferrari once dined with friends and F1 stars.
Il Cavallino will open again Tuesday, across from Ferrari’s HQ’s at the heart of a region known around the world for Supercars and fine food.
The restaurant, closed in Y 2019 by previous owners, is now a cornerstone of Ferrari’s new brand enhancement strategy, aimed at offering affluent customers and new clients more than just Supercars.
A new women’s and men’s clothing collection, designed by Ferrari’s creative director and former Armani designer Rocco Iannone and launched Sunday, is also part of this new strategy.
“It looks beautiful,” Chef Bottura said of the restaurant.
“I am looking at the past in a critical way, not in a nostalgic one, to bring the best of the past into the future, to renew tradition, exactly as Ferrari does every day,” he told us.
The Cavallino, designed by Iranian-French architect India Mahdavi, features F1 memorabilia, Ferrari engines and racing car components displayed as art pieces. The firm’s Cavallino Rampante, badge is prominent.
Chef Bottura aims to give the restaurant “a lot of signature dishes” such as a creme caramel of Parmigiano Reggiano cheese and very old balsamic vinegar.
“So very traditional in the flavor, very contemporary in the presentation,” he said.
With more affordable prices than haute-cuisine restaurants, Il Cavallino aims to welcome not just super-rich Ferrari owners but also Ferrari fans and food lovers.
“It’s the essence of a restaurant, we have to take care of people, of travelers, people who want to spend some time in a restaurant and enjoy the food,” Chef Bottura said.
“I think Enzo would come, sit here and would eat tortellini as a historic compromise, not with chicken broth, not with cream, but with Parmigiano Reggiano sauce,” he said.
Ferrari is The Aristocrat of the automotive sector.
Ferrari closed Monday at 202.18 within its 52 wk range of 127.73 – 233.66 in NY. Friday pre-market in NY RACE is trading 202.46 or +0.77%. It’s all time high in NY was marked at 233.66 intraday on 29 December.
Key technical indicators are Bearish in here, but Bullish long term. The candlestick pattern indicates the confirmation of the break out at 196.01 on 3 November and confirmed.
The Key support is at 200.45 and the Key resistance is at 207.02. The 16 June Doji candlestick augurs a return to the Very Bullish trend.
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 231.99.
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. And Ferrari continues to buy back its stock in here.
The stock is considered defensive in the sector.
Have a happy day, Keep the Faith!
