RACE: $165 Long TargetFirst off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. That being said Ferrari is doing quite well for itself. Among their line of 2020 cars included are the Portofino, GTC4Lusso, F8 Spider, F8 Tributo, 488 Pista, 812 Superfast, SF90 Stradale, etc. The list of new and old cars is ever growing. Many people don't know this, but Ferrari makes alot of different luxury cars. I mean they, just like most car manufacturers, have a long list of product skews. Ferrari's production output of vehicles doesn't have to be that high given the price in comparison to other companies. However, with a nearly $30 billion dollar market cap, they are likely over 8x their yearly revenue in value over the traditional 300 to 330% that goes into valuations. This is because Ferrari unsurprisingly has brand value. Brand value increases equity value. This is why I see (with some resistance), the bullish run continuing to positively retrace towards the $165 price point.
