Jefferies Remains Bullish as Ford Motor (F) Announces Launch of Driverless Vehicle by 2021

August 17, 2016 7:38 AM EDT
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Price: $12.63 --0%

Rating Summary:
    8 Buy, 14 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies maintained an Underperform rating and $10.00 price target on Ford Motor (NYSE: F) following the company's announcement that it plans to launch a fully autonomous vehicle by 2021.

Analyst Philippe Houchois commented, "Ford announced the launch by 2021 of a fully autonomous vehicle designed for commercial ride-sharing applications, which we view as an interesting initiative to position Ford in what is likely to become a new volume segment and also possibly try to pre-empt the emergence of private label vehicles."

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 $12.34 yesterday.

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