A growing number of analysts say Ford Motor Co. (F) faces a growing challenge from rival General Motors (GM) in the electric vehicle space.
Dan Ives, a popular analyst at Wedbush Securities, recently noted that Tesla (TSLA) is the current world leader in electric vehicle sales with 462,890 deliveries in this year’s third quarter. By comparison, Ford sold 23,509 electric vehicles. GM sold 32,095 EVs in the third quarter, placing Ford in third place among the major U.S. automakers.
While Ives makes it clear that GM will never beat Tesla, he notes that the company should stay comfortably in front of Ford in terms of EV sales. Hopefully Ford’s recent move to add BlueCruise can prove helpful here.
New Baja Raptors
Elsewhere, Ford’s Raptor truck has won praise from reviewer MotorTrend. However, consumers wanting a Raptor vehicle should be prepared to write a big check. One version of the truck that comes with a twin-turbocharged V6 engine has a starting price of $61,995.
A second version of the Raptor, with a Whipple supercharger in a V8, starts at $64,995. Higher end models of the Raptor run into the six-figure range.
Is Ford Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on F stock based on five Buys, nine Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 7.04% loss in its share price over the past year, the average F price target of $12.82 per share implies 24.86% upside potential.
