Ford's (F) Moody's Downgrade Was Surprising Considering Recent Results - BofA

BofA/Merrill Lynch analyst John Murphy reiterated a Buy rating and $13.00 price target on Ford (NYSE: F) after Moody’s downgraded Ford’s senior unsecured rating to Ba1 (from Baa3) and corporate family rating to Ba1 (from Baa3), assigning an outlook of stable.

The analyst stated "While a downgrade of Ford’s credit rating from investment-grade to junk status had been widely anticipated by the market earlier this year, most had viewed the risk as somewhat mitigated after the company’s impressive 1Q:19 earnings beat; and therefore, the downgrade at this point in time is somewhat surprising, in our view".

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 $9.19 yesterday.

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