Ford (F) PT Lowered to $11 at Nomura/Instinet

Nomura/Instinet lowered its price target on Ford (NYSE: F) to $11.00 (from $12.80) while maintaining a Neutral rating.

Analyst Anindya Das comments "Following our review of Ford's 2017 Q4 results, we revise our estimates for 2018F and beyond. In North America, considering the company's guidance, we factor in a more adverse y-y headwind from commodity costs in 2018F, vs our prior assumption. In 2017, despite gaining headline market share in the US, segment-wise Ford lost share in both the shrinking passenger car and the growing light truck segment (traditionally an area of strength, and a time when completion in the segment was incipient)."

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