Credit Suisse Downgrades Ford (F) to Underperform

Credit Suisse downgraded Ford (NYSE: F) from Neutral to Underperform with a price target of $13.00.

Analyst Dan Galves commented, "Our F 2016 TP of $13 & our 2016/2017 EPS ests of $1.92/$1.85 remain unchanged. However, we believe NA EBIT guidance is at risk on overly optimistic implied volumes and global inventories that have fallen meaningfully out of step with demand, while recent pricing/mix gains from new product launches in NA have been fully offset by material cost increases."

The firm favors GM (NYSE: GM)

For an analyst ratings summary and ratings history on Ford click here. For more ratings news on Ford click here.

Shares of Ford closed at $12.42 yesterday.

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