In a report released today, Ryan Brinkman from J.P. Morgan reiterated a Buy rating on Ford Motor (F – Research Report), with a price target of $15.00.
Ryan Brinkman has given his Buy rating due to a combination of factors that indicate a strong outlook for Ford Motor Company. Among these, the company’s 2024 guidance significantly surpassed both J.P. Morgan’s and the Street’s expectations, indicating potential earnings before interest and taxes (EBIT) that could exceed consensus estimates by about $1.5 billion. This positive adjustment is attributed to anticipated cost savings, which are expected to counterbalance labor cost inflation in 2024, showcasing the company’s proactive financial management and strategic planning.
Moreover, Brinkman’s optimistic view is further supported by Ford’s solid performance in various segments, particularly with its Ford Pro division outperforming expectations. Additionally, the company’s refreshed vehicle lineup, international operations turnaround, and capable new leadership team contribute to the favorable rating. These elements collectively suggest that Ford is well-positioned to capitalize on its initiatives, which include electrification and autonomous vehicle efforts, thereby justifying the Buy recommendation and suggesting potential for a robust share price response.
According to TipRanks, Brinkman is an analyst with an average return of -4.7% and a 51.80% success rate. Brinkman covers the Consumer Cyclical sector, focusing on stocks such as Tesla, BorgWarner, and Ford Motor.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $21.00 price target.
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Ford Motor (F) Company Description:
Ford Motor Company is a global automobile company and is the third largest car manufacturer in the United States. The firm is engaged in designing, manufacturing, and selling cars, trucks, and automobile parts. The company makes vehicles under two brand names – Ford and Lincoln. Its Ford family includes Fusion, Ecosport, Bronco, Explorer,Mustang Mach-E, F-150, and Ranger. Under the Lincoln brand, the company has popular models including Navigator, Aviator, and Nautilus.
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