Barclays downgrades Ford on increased earnings uncertainty

Barclays analyst Dan Levy downgraded Ford (F) to Equal Weight from Overweight with a price target of $11, down from $13. The firm says that while it appreciates Ford’s transformation efforts, it believes elevated volume headwinds in 2025 due to inventory destocking and continued modest price normalization will drive downside on earnings estimates. Ford’s cost moves have the potential to provide offsets, but there is too much uncertainty on the path ahead for cost improvement, the analyst tells investors in a research note. Barclays cites increased uncertainty on Ford’s earnings profile for the downgrade.