In recent months, Wall Street investment firms have largely maintained their outlook on Ford stock, noting that the automaker is balancing many current market uncertainties and challenges with promising results and future plans. Following the automaker’s Q2 financial reports release, Piper Sandler raised its price target for Ford stock from $9 to $9.50 while maintaining a neutral rating on those same shares, and Bank of America stood pat at $14 per share and kept its “buy” rating earlier this month.
Now, Goldman Sachs has opted to raise its price target for Ford stock, but is maintaining its rating on those same shares, according to MarketBeat. In a research note sent to investors this week, that firm revealed that it’s raising its price target for Ford shares from $11 to $12 – a potential 0.17 percent downside compared to its most recent closing price – and it’s maintaining a “neutral” rating as well.
As for the reasoning behind this decision, that remains unclear at the moment, but we’ve seen what other firms think of Ford as a potential investment on multiple occasions as of late. On the positive side, many have praised Ford’s new universal EV platform recently, and announced its pivot to more affordable electric vehicles at the same time. Analysts noted that Ford is taking cues from the leaders in EV manufacturing as it pertains to becoming more cost competitive via that process, setting it up for success in the future when demand is expected to pick up.
On the flip side, there are some concerns worth noting, including many centered around tariffs that have been imposed on imported vehicles and parts for months now. Those concerns have thus far impacted Ford’s bottom line in a way – accounting for an $800 million dollar loss in Q2 – but it’s unclear if that will continue to be the case moving forward as new trade deals are forged.
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