Bernstein downgraded Ford (F) to Underperform from Market Perform with a $7 price target The stock in premarket trading is down 2% to $8.51. The firm says tariffs are impacting Ford just as consumer confidence wanes. Bernstein assumes that tariffs apply only to non-United States-Mexico-Canada Agreement imports, but even this “modest” scenario “significantly affects Ford,” the analyst tells investors in a research note. Further, Bernstein believes “downside risk from more stringent U.S. content rules” may also pressure the company’s dividend. It believes significant downside risk for Ford shares is not being priced in by the market.
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