Ford Motor (F): No Pain No Gain - UBS
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UBS analyst, Colin Langan, reiterated his Buy rating on shares of Ford (NYSE: F) after the stock traded down 2% following its investor day after the company announced it is taking a forward-looking approach (focusing on electrification, autonomous, mobility, and data analytics), at the expense of near-term profits as it absorbs these costs.
Based on its presentation slides, Ford is still targeting pre-tax profit of about $10.2bn in 2016 ($11.5 Core, -$1.3 EV/Emerging), $9.3bn in 2017 ($11.7 Core, -$2.4 EV/Emerging), and $10.8bn in 2018 ($13.1 Core, -$2.3 EV/Emerging). The analyst believes that the near-term outlook may be disappointing but Ford is making needed investments to be competitive.
No change to the price target of $16.
Shares of Ford closed at $12.14 yesterday.
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