Ford stock lacks 'near-term upside,' RBC says on downgrade

29979 ford stock lacks near term upside rbc says on downgrade

Analysts at RBC Capital Markets have downgraded their rating on Ford Motor Co. F, +0.68% stock to the equivalent of hold, saying in a note late Thursday that despite their belief that the auto maker’s turnaround is “well underway” and Ford can continue to transition toward a future dominated by electric vehicles, autonomous vehicles, and software, “the upside looks a little more challenging so moving to sidelines for now.” The analysts upped their price target on the stock to $26, from $21, representing an upside of around 4% over Friday’s prices. Ford stock has taken off, up about 145% in the past 12 months, compared with gains of around 23% for the S&P 500 index SPX, +0.08% in the same period. Ford is seen reporting fourth-quarter earnings later this month.

Source: Marketwatch

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