UBS Lowers Estimates on Ford (F); International Losses Worse Than Expected

June 29, 2012 10:49 AM EDT Send to a Friend
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Price: $15.62 +1.23%

Rating Summary:
    8 Buy, 11 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 35
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UBS maintains a 'Buy' on Ford (NYSE: F) price target of $15.00 (from $16.00).

Analyst, Colin Langan, said, "Ford announced that deteriorating conditions (pricing) in Europe have resulted in a Q2 loss of ~$570m overseas (3x Q1’s -$190m). This is ~$310m (~$0.06/shr) worse than our prior Q2 estimate. Ford also is evaluating their full year guidance of about flat y/y pretax income. While disappointing, this is largely priced-in as many investors expect auto estimates to be cut. We still see significant upside to the shares. Ford is trading at 7x our revised 2012 EPS, below its ~10x decade average."

FY12 EPS estimate lowered from $1.60 to $1.45, FY13 from $1.95 to $1.80, FY14 from $2.20 to $2.05, and FY15 from $2.35 to $2.20.


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 $10.09 yesterday.


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