On Tuesday, Jefferies shifted gears on their stance on Ford Motor Company (NYSE:F), elevating it from a Hold to a Buy rating and causing shares to jump. This decision followed a recent investor event, where Ford showcased a refreshed strategy designed to bridge the gap between the quality of its offerings and returns. Philippe Houchois, an analyst at Jefferies, remarked on Ford’s successful harnessing of its existing strengths while focusing on improving return consistency that has historically lagged behind its peers.
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Ford has recently built a well-integrated team, blending in-house veterans with senior talents from outside the auto industry, including CEO Jim Farley. The latter’s openness to fresh business models and his willingness to draw inspiration from Tesla (NASDAQ:TSLA) when relevant has been seen as a positive sign. The contributions from Ford’s divisions – Ford Blue, Model e, and Ford Pro – are anticipated to bolster this turnaround phase. In addition, Ford’s new collaboration with Tesla, which will grant Ford customers access to over 12,000 Tesla Superchargers across the U.S. and Canada, definitely helps too.
Overall, Wall Street analysts have a consensus price target of $14.48 on Ford stock, implying almost 15% upside potential, as indicated by the graphic above.
