Ford (F) Stock Dips on Downgrade to Sector Perform at RBC, Analyst Sees Limited Near-term Upside

January 14, 2022 7:54 AM EST
Get Alerts F Hot Sheet
Price: $19.96 -0.1%

Rating Summary:
    11 Buy, 16 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 15 | New: 37
Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Shares of Ford Motor (NYSE: F) are down 1.3% in pre-open Friday after RBC analyst Joseph Spak downgraded to Sector Perform from Outperform while raising the price target to $26.00 per share from the prior $21.00.

The analyst sees limited near-term upside and a more challenging setup after a run-up in Ford shares in recent months. Although Spak acknowledges the early success that Ford has managed to achieve with its green transition, he believes that the company “may not have a technical disadvantage and got to market quicker.”

All in all, Spak remains “positive on ability to make "new auto" progress, but see less near-term stock upside.”

“Again, we don’t want to take anything away from the job at Ford. The company has re-rated and there could be some further potential for the company to re-rate as they continue to prove their transition. However, that could take time, so we focus a little more on numbers,” the analyst said in a client note.

The analyst sees Ford stock price consolidating around these levels for a while, hence some investors may divide to allocate capital to other auto names in the meantime.

Ford shares closed at $25.02 yesterday.

By Senad Karaahmetovic | senad@streetinsider.com



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst PT Change, Downgrades, Hot Downgrades

Related Entities

Pre Market Movers, Senad Karaahmetovic