AUTO - Ford Stock up as Identified as Wells Fargo's Bearish Tactical Idea
Ford Stock ( NYSE:F )
On Tuesday, Wells Fargo issued a pessimistic assessment for Ford ( NYSE:F ). “Ford has a number of revenue issues in 2023. As a result, Ford is listed among our tactical ideas for Q1–23, according to bank experts. The main concern is pricing pressure brought on by rising borrowing rates, declining used car prices, and mix normalization. According to the research, pricing headwinds are already evident.
Colin Langan and his team of experts predicted that adjusted EBIT would underperform in 2023, aiming for $6.8 billion instead of the $10.4 billion consensus. Union talks and possible supply chain problems are expected to help with some of the biggest problems, like a growing mix of lower-margin EVs, lower pension income, and rising software and EV investment costs.
Prices are also expected to go down until 2023 because customers will feel the effects of more competition and big problems. Since US sales have been stagnant for the past six months while inventory has climbed, Langan said there will be a greater emphasis on US sales and inventory. “Continued inventory growth absent better sales will exacerbate pricing difficulties.”
Ford Stock Outlook
Langan kept his old rating of “underweight” for the stock and his $10 price target. Despite this, shares of Ford (F) increased 1.42% on Tuesday. Even though there are still problems with the supply chain and parts, the Ford F-Series kept its decades-long sales lead in the U.S. in 2022, the company said on Tuesday.
Ford Motor said that its F-Series, which includes the F-150 pickup and its bigger brothers, sold more than 640,000 trucks last year, making it America’s best-selling car and truck for 41 and 46 years, respectively.
...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube