Jefferies Remains Bullish as Ford Motor (F) Announces Launch of Driverless Vehicle by 2021
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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."
Shares of Ford closed at $12.34 yesterday.
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