Ford (F) Beats As Semiconductor Shortage Eases - Credit Suisse

July 29, 2021 6:54 AM EDT
Get Alerts F Hot Sheet
Price: $13.22 --0%

Rating Summary:
    13 Buy, 14 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 8 | New: 8
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Credit Suisse analyst Dan Levy reiterated a Neutral rating and $15.00 price target on Ford (NYSE: F) after the company reported a solid 2Q beat, while guidance in-line with expectations. The analyst saw 3 key takeaways:

1. Incremental volume amid inventory rebuild should drive upside to ’22 est’s
2. Semiconductor shortage easing
3. Go-to-market shift to order bank reflects embrace of new auto retail model

Despite the beat, the analyst justified his Neutral rating, stating "While we see a long path ahead in Ford’s transition to an EV world (underlying our Neutral rating), we nevertheless believe Ford is increasingly demonstrating it is on the right track, w/increased confidence in the fin’l outlook and its EV transition strategy."

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 $13.86 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Credit Suisse