Fernando Alonso played down Ferrari's apparent surge in form at Monaco.
The Spaniard was setting the pace in Thursday practice, mere days after technical director Aldo Costa was ousted following a dire performance for the 150 Italia car in Spain.
"You do not turn around the world in five days," insisted Alonso.
"The truth is that the aerodynamics are less important on this track because we go slower, but the engine, suspension and mechanicals are equal if not superior to the others.
"That's why we look good, but for pole and the race, I expect the Red Bulls (to be fast)," he is quoted by La Gazzetta dello Sport.
The tyre situation is also vastly different this weekend; the super-soft compound is being supplied for the first time while degradation was much lower on Thursday than has been seen elsewhere in 2011.
You do not turn around the world in five days
"It's amazing," said Pirelli's Paul Hembery, according to Auto Motor und Sport. "We think a two-stop strategy will be possible."
Runaway championship leader Sebastian Vettel, meanwhile, is expecting Ferrari to remain strong all weekend.
"They were very strong last year here as well," the German is quoted by Speed Week. "It's close."