UPDATE: Wolfe Research Downgrades Ford (F) to Peerperform

December 2, 2021 6:33 AM EST
Get Alerts F Hot Sheet
Price: $19.91 -0.35%

Rating Summary:
    11 Buy, 16 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 37
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(Updated - December 2, 2021 6:42 AM EST)

Wolfe Research analyst Rod A. Lache downgraded Ford (NYSE: F) from Outperform to Peerperform, PT $22.00 (from $17.00).

The analyst comments "...since upgrading F to Outperform in April, shares are up ~80% (+130% YTD). But at this point, we believe the stock now reflects the upside that we’ve been anticipating based on their turnaround (7 x EPS exArgo of $2.75 = $19). And while we see an additional $3/share of value from Ford’s stake in Argo, we worry about diminishing SOTP upside from other Auto Tech investments as the company monetizes them (investors typically don’t give OEMs much credit for cash on their balance sheets). Our updated Ford target is $22 ($19 for “Core Ford” + $3 for Argo), up from $17 previously, but implies ~10% upside."

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 $19.58 yesterday.


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Analyst Comments, Analyst PT Change, Downgrades