Ford Rides On The Strength Of Pro, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Ford Motor Co (NYSE:F) exceeded first-quarter revenue expectations with $42.8 billion and an EPS of $0.49, surpassing the consensus estimate of $0.42. BofA Securities reaffirmed a Buy rating with a $21 price target, highlighting strong volume growth in Ford's Pro segment and lower losses in Model e. Goldman Sachs maintained a Neutral rating with a $14 price target, noting the resilience of Ford Pro and raising the 2024 EPS estimate to $2.15. Ford anticipates a 2% industry-wide pricing decline in 2024, mainly in the second half, but expects demand for Pro to remain high with new launches in Europe.
April 25, 2024 | 6:06 pm
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Ford Motor Co reported a strong first quarter, driven by its Pro segment, with EPS of $0.49 beating estimates. BofA Securities and Goldman Sachs provided positive outlooks, with slight adjustments to Ford's 2024 forecasts.
Ford's better-than-expected Q1 earnings, driven by the Pro segment and positive analyst ratings, suggest a strong short-term outlook. Adjustments to 2024 forecasts and continued investment in electrification, despite pricing pressures, indicate a positive trajectory. However, the stock's short-term dip on the announcement day reflects market volatility rather than fundamental weakness.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100