Ford Shares Fell More Than 3% in Morning Trading
Tiger Newspress2022-04-07
Ford Shares Fell More Than 3% in Morning Trading.
Barclays analyst Brian Johnson downgraded Ford Motor Co 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.
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