{"id":42554,"date":"2023-07-31T09:23:22","date_gmt":"2023-07-31T13:23:22","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ford-stock-falls-after-rating-cut-on-worse-ev-losses-strategic-wobble\/"},"modified":"2023-07-31T09:23:24","modified_gmt":"2023-07-31T13:23:24","slug":"ford-stock-falls-after-rating-cut-on-worse-ev-losses-strategic-wobble","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42554","title":{"rendered":"Ford stock falls after rating cut on worse EV losses, \u2018strategic wobble\u2019"},"content":{"rendered":"
\n

Shares of Ford Motor Co. slumped Monday, after Jefferies analyst Philippe Houchois downgraded the auto maker with \u201cwith a heavy heart,\u201d just two months after he had turned bullish.<\/p>\n

Houchois said while the change in electric-vehicle guidance when Ford reported quarterly results last week was \u201csensible,\u201d the fact that it came so soon after an upbeat update on its EV business at an analyst gathering on May 22, was a \u201csetback\u201d that prompted him to reluctantly back away from his bullish call.<\/p>\n

\n

Houchois cut his rating on Ford
\n F,
\n -3.42%<\/bg-quote>
\n to hold, after upgrading it to buy on May 30, citing \u201cworse EV losses and strategic wobble.\u201d He trimmed his stock price target to $15 from $17.<\/p>\n

The stock shed 1.1% toward an eight-week low in premarket trading. That put the stock on track to open nearly 15% below the 10-month closing high of $15.35 on July 5.<\/p>\n

\u201cWe appreciate efforts in disclosure and accountability and note no apparent change to midterm strategy,\u201d Houchois wrote in a note to clients, but as the new EV strategy focuses on software and a concentrated lineup leaves a \u201cless differentiated investment case\u201d for the next couple years.<\/p>\n

Separately, he reiterated his hold rating on Ford rival General Motors Co.
\n GM,
\n -2.36%<\/bg-quote>
\n and kept his buy rating on Stellantis NV.
\n STLA,
\n +3.79%<\/bg-quote><\/p>\n

8TI,
\n +1.54%<\/bg-quote>\n <\/p>\n

Also read<\/strong>: Ford recalls 900,000 F-150s for faulty electrical parking brakes that could activate while driving.<\/p>\n

So far in 2023, Ford\u2019s stock has gained 14.0% through Friday, while GM shares have tacked on 13.1%, Stellantis\u2019 stock has run up 44.7% and the S&P 500 index
\n SPX,
\n +0.99%<\/bg-quote>
\n has advanced 19.3%.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Ford Motor Co. slumped Monday, after Jefferies analyst Philippe Houchois downgraded the auto maker with \u201cwith a heavy heart,\u201d just two months after he had turned bullish. Houchois said while the change in electric-vehicle guidance when Ford reported quarterly results last week was \u201csensible,\u201d the fact that it came so soon after an […]<\/p>\n","protected":false},"author":1,"featured_media":42555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-42554","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nFord stock falls after rating cut on worse EV losses, \u2018strategic wobble\u2019 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Ford Motor Co. slumped Monday, after Jefferies analyst Philippe Houchois downgraded the auto maker with \u201cwith a heavy heart,\u201d just two months\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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