Shares of Ford (NYSE:F) are trading slightly higher today. This is despite the fact that Wells Fargo (NYSE:WFC) issued a bearish call on the stock. The company’s analysts expect several challenges for the company in 2023. The biggest problem they see is the impact that higher interest rates will have on prices.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
This makes sense since the higher cost of borrowing has already impacted the used vehicle market, which has caused prices to fall. As used car prices continue to decline, consumers may be less interested in new cars.
As a result, lead analyst Colin Langan reiterated his Sell rating with a $10 price target, as he expects EBIT to come in at $6.8 billion as opposed to the consensus estimate of $10.4 billion.
Overall, Wall Street analysts have a consensus price target of $16.78 on F stock, implying 43.05% upside potential, as indicated by the graphic above.
