Ford price target lowered to $10 from $11 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Ford (F) to $10 from $11 and keeps a Hold rating on the shares. The company’s Q3 results were “mostly in-line”, though its FY24 is now seen at the low end of prior guidance, implying a weak Q4 amid headwinds that involve Turkey inflation hurting European business and hurricane-related supplier issues, the analyst tells investors in a research note. Entering 2025, Ford management kept commentary very limited, indicating EV costs should decline and that Inflation Reduction Act would be material benefit starting mid-year, even though pricing could be a big offset considering many new nameplates are entering the market, the firm added.