Ford's $4.5 Billion EV Loss Overshadowed by Q2 Revenue Surge: Morgan Stanley Sees Potential Shift in EV Strategy
Portfolio Pulse from Anusuya Lahiri
Ford Motor Co (NYSE:F) reported a Q2 revenue surge, overshadowing a $4.5 billion loss in its electric vehicle (EV) segment. Morgan Stanley analyst Adam Jonas maintains an Overweight rating on Ford with a price target of $16.00, despite raising the EV loss estimate by 50%. Ford's Q2 revenue was $45.0 billion, a 12% YoY increase, beating the consensus estimate of $40.38 billion. Jefferies analyst Philippe Houchois downgraded Ford from Buy to Hold and lowered the price target from $17 to $15. Ford also recalled 870,000 F-150 trucks due to a possible wiring issue.
July 31, 2023 | 5:21 pm
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Ford's Q2 revenue beat estimates, but the company reported a significant loss in its EV segment. The stock was downgraded by Jefferies and the company recalled a large number of trucks, which could negatively impact the stock price.
Ford's Q2 revenue beat is a positive sign, but the significant loss in the EV segment and the downgrade by Jefferies could negatively impact investor sentiment. The recall of 870,000 trucks due to a potential wiring issue could also lead to additional costs and damage the company's reputation, further impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100