This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXMPED3I0OT_M.jpg
The analyst takes note of a sharp sell-off that pushed F shares below $13 for the first time in 18 months.
“We believe the ‘run-off‘ value of Ford’s authentic/emotional ICE) vehicles and fleet-oriented commercial end markets may be under-estimated by the market,” Jonas said in a client note.
He also has confidence in Jim Farley’s “vision of addressing up-stream challenges (battery materials sourcing), downstream model (re-casting ‘op-in’ EV dealer franchises), and structural measures (EV/ICE re-org).”
The analyst also maintained an EW rating for General Motors (NYSE:GM) and cut the price target to $44.00 per share, down from $50.00.
“We are Equal-weight both Ford and GM during highly uncertain economic environment and extraordinarily high dispersion of outcomes,” Jonas said in a client note.
By Senad Karaahmetovic
