Ford Motor Co (NYSE:F) shares are trading lower Thursday following a downgrade from Barclays.
Barclays analyst Brian Johnson downgraded Ford from an Overweight rating to an Equal-Weight rating and lowered the price target from $23 to $17.
Despite the recent selloff, Johnson believes investors are still underestimating risks to the auto industry from inflation and production pressures, as well as the impact of interest rate hikes.
Johnson cites supply chain headwinds as the main reason for the downgrade as the analyst expects the chip shortage to continue to cause problems for Ford and other auto manufacturers throughout 2022.
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F 52-Week Range: $11.14 - $25.87
According to data from Benzinga Pro, the stock was down 5.23% at $14.59 at time of publication.
Photo: courtesy of Ford.
