GM - Ford Downgraded - Analyst Says Its Gen 2 EV Lags Compared To General Motors | Benzinga
UBS Global Research analyst Joseph Spak downgraded Ford Motor Company (NYSE:F) to Neutral from Buy, maintaining the price target at $12.
The analyst sees limited upside to estimates for Ford over 2024 and 2025 than prior, highlighting that there is potential for more earnings upside at U.S. peer General Motors Company (NYSE:GM).
Ford’s Gen 2 EVs (clean-sheet approach) won’t launch until 2025/26, the analyst notes.
However, GM has a head start on its clean-sheet Ultium platform. While GM’s Ultium has had challenges, there have also been learnings, the analyst adds.
Given that many EV launches across the industry have issues, it’s not certain that F’s Gen 2 product won’t face ...