Wells Fargo analyst Colin Langan added Ford to the firm’s Q3 2023 Tactical Ideas List, while keeping an Underweight rating and price target of $10 on the shares given challenges around BEV economics and pricing. However, the firm emphasizes elevated UAW strike risk given new UAW leadership. In addition, Wells expects a large UAW signing bonus and a 10% wage increase, costing about $850M/year.
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