Remember a few months back when legacy automaker Ford (F), or rather its CEO, was singing the praises of Chinese electric vehicles? Remember that sense of betrayal, that mood that Jim Farley was actively slitting his company’s throat in full view of shareholders? There may have been a method to the madness after all, and Farley has announced plans for a new mid-sized electric pickup that is a match for the Chinese. Investors were skeptical, and shares slid fractionally in Tuesday afternoon’s trading.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
A report from Autoblog noted that the next electric pickup Ford releases will be a “game-changing” new model. It will actually even be a match for them in terms of price, which was often considered an impediment to buying electric in the first place.
But as good of news as that is, there is one problem. Ford’s amazing Chinese-beating game-changer of a pickup will not be available until late 2027. However, Ford already has quotes for 60% of the bill of materials, the report noted, so that will provide an excellent blueprint going forward. The Tennessee plant will do much of the assembly, the report noted.
A Surprising Speedster
So while this may not be the best news, Ford did offer up a more positive piece. Recent time trials at the Top Gear track suggest that the electric Ford Transit is, somehow, faster than virtually any supercar on the planet. The Jesko Attack from Koenigsegg managed to take the lap record for “street-legal vehicles” at the Dunsfold track, noted Jalopnik, with a time of 1:10.9. For reference, a Ferrari (RACE) SF90 Stradale turned in a time of 1:11.3.
But it might alarm you to find that the Supervan 4.2 managed to beat the Jesko Attack’s time. Yes, the car that beat the Ferrari. The Supervan apparently turned in a time that was more than six seconds faster, the report noted. In fact, thanks to this, there are only two cars faster than the Supervan: a Renault F1 formerly owned by Fernando Alonso, and a track car from Lotus, the T125.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on four Buys, eight Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 10.9% loss in its share price over the past year, the average F price target of $10.89 per share implies 9.83% upside potential.
