Ford Upgraded To Overweight From Equal Weight At Barclays
Source: Unsplash
Barclays analyst Brian Johnson upgraded Ford Motor (F) to Overweight from Equal Weight with a price target of $16, up from $9.
While the analyst has liked Ford's product cycle and profit improvement potential under an "energetic" new CEO, the lack of an "aggressive" battery electric vehicle strategy has kept him on the sidelines. However, after a deep-dive into Ford Europe and in particular its Volkswagen (VWAGY) alliance, Johnson is more comfortable with Ford's margin improvement outlook.
Ford will likely shift much more aggressively than the consensus believes toward electric vehicles in the 2025-2030 period, and will likely highlight at its spring investor day a strategy centered around two dedicated platforms, Johnson tells investors in a research note.
Further, a Ford Europe turnaround supports margin and earnings upside, says the analyst.
Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at more