Positivity on the stock market for the Ferrari stock which on Wall Street is up 0.85% and now puts new all-time highs in its sights.
Today’s earnings are driven byagreement signed yesterday between Ferrari and Samsung Displayaimed at developing cutting-edge display solutions to be implemented in the new generation models of the Prancing Horse.
In detail, with this memorandum of understanding, Samsung Display will develop an innovative automotive display solution suitable for a luxury supercar brand with OLED technology, in order to support the digital transformation of Ferrari.
Samsung Display is the world leader in production of screens based on the revolutionary OLED technology and the innovations it has made in this area, with curved panels of reduced weight and dimensions, will allow Ferrari to integrate cutting-edge technologies into its future models, all with theaim of maximizing the driving experience more and more.
The memorandum of understanding in question was signed yesterday by Benedetto Vigna, CEO of Ferrari, who met in South Korea, JS Choi, President and CEO of Samsung Display.
“In the luxury sector it is essential to be able to take the customer experience to ever higher levels. The strategic partnership launched today with Samsung Display, aimed at developing tailor-made solutions for very high-tech OLED displays, represents a significant step forward in creating the highest quality digital environments for our future models “said Benedetto Vigna, CEO of Ferrari.
“We are confident that our collaboration with Ferrari will provide an exciting opportunity to apply our strengths to the supercar sector and strengthen our position in the automotive OLED market, enabling us to reach ever new heights,” said JS Choi, President and CEO of Samsung.
The collaboration with Ferrari will certainly open up exciting opportunities to apply our strengths to the world of super sports cars, consolidating our position in the OLED screen market for the automotive sector and thus allowing us to reach the next level,” said JS Choi, President and CEO of Samsung Displays.
Ferrari’s award-winning design
Meanwhile, the Ferrari brand won two major awards for the first time Red Dot Awardone of the most prestigious awards in the industrial design sector and which aims to celebrate the best designers in the world.
In detail, this year the lines of the have been awarded at the Red Dot Award Thoroughbred Ferrari and the prototype Ferrari Vision Gran Turismo.
But these are not the only Ferrari projects that have been awarded, in fact, between 2015 and 2023 the prancing horse obtained 26 awards at the Red Dot Awardmore than all other automakers.
Among the latest models of the Maranello house that have been awarded we mention the FXX-K, the 488 GTB, the Portofino, the Monza SP1, but also the Ferrari Daytona SP3 and the SF90 Stradale.
Technical analysis: price towards all-time highs
Today’s performance by Ferrari was substantially positive and has been trading in Piazza Affari for a month now, slowly advancing towards new all-time highs above the level of resistance at 257 euros per share.
The stock shows a clear upward trend in recent years with an increase of more than 25% since the beginning of the year, +120% from the lows marked on the occasion of the pandemic from Covid in 2020.
In the event of continuation of the purchases on the stock, the overcoming of the static resistance at 258 euros with increasing trading volumes could push the prices of the Maranello company towards the next resistance in the area of 260 euros per share.
Conversely, in the event of a price retracement i the main support levels are found first at a level of 250 euros and then at a level of 245 euroswhile only a return of prices below 240 euros could provide the first signs of weakness for the stock.
As regards the view on Ferrari, from the data collected by Bloomberg, we see how most of the analysts (13) who follow the stock give a “Buy” indication, 9 say they keep in portfolio (“Hold”) , while only in 2 has a “Sell” view on the title.
The average 12-month target price is equal to 261 euros, which implies a potential return of 3.9% compared to current prices at Piazza Affari.
