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Benzinga
Benzinga
Business
Shivani Kumaresan

Barclays Downgrades Ford, Cuts Price Target By 26%

Ford Barclays Brian Johnson Ford Motor Co NYSE United States
  • Barclays analyst Brian Johnson downgraded Ford Motor Co (NYSE:F) to Equal Weight from Overweight with a price target of $17, down from $23, implying a 10.39% upside.
  • Johnson said that the investors underestimated the risk of inflation, production pressure, and the impact of interest rate hikes in the auto and auto parts sector.
  • The analyst cited soft execution and the sectoral headwinds as the cause for the downgrade of the shares.
  • Ford reported a 25% slump in sales in the U.S. for March, impacted by the global semiconductor chip shortage.
  • Price Action: F shares are trading lower by 1.30% at $15.19 in premarket on the last check Thursday.
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