Jefferies downgrades Ford to “hold” from “buy” but increases the price target from $20 to $25

Jefferies analyst Philippe Houchois downgraded today Ford Motor from Buy to Hold – however the 12-month price target increased from $20 to $25.

“Ford and its shares are in good shape and in good hands. The group has replaced, revived or re-invented all key product franchises, leapfrogging EV early movers in the US and in Europe (100% electric targeted by 2030). Global Redesign has closed most of the gap with GM cost base and retained a reduced but still solid global exposure.”

Analyst Philippe Houchois

Over the last 6 months, Ford’s Share price rose almost 70%. Houchois thinks Ford shares have re-rated on the recovered earnings. The stake in non-core Rivian, the expected IPO of Argo AI and the return of dividends are seen providing some strong support.

Ford stock was up more than 100% over the past year. Shares look like they will open down about 2% Thursday after falling nearly 8% Wednesday. Shares of Ford are down 2.09% premarket to $21.98.

Last week, Ford Motors reached a new 52-week high and topped $100B of Market Cap value for the first time ever.