The United Auto Workers (UAW) strikes haven’t been going on that long, but they’ve left chaos in their surprisingly short wake. With plenty of trouble already behind and plenty more yet to come, the latest events are posing a strange picture all their own. More strikes hit General Motors (NYSE:GM) and Stellantis (NYSE:STLA), but the expanded strikes passed over Ford (NYSE:F), leaving a potentially strange new order to rise. Ford surged up over 2.5% in Friday afternoon’s trading as a result.
During a livestream address, Shawn Fain, the current UAW president, called for more strikes to begin at GM and Stellantis plants. Ford, however, was off that list, as it had improved its offer in recent days to a level UAW management found palatable enough to not continue striking over. Ford agreed to several key features the UAW was pursuing, including a return of cost-of-living increases (previously frozen since 2009), new profit-sharing arrangements, and the right to strike when plants are closed.
Stellantis and GM, meanwhile, are mostly holding the line, and the UAW is out to make them suffer for it. Another 38 GM and Stellantis locations will see strikes as a result of this measure.
Is Ford a Buy or Sell?
Ford enjoys a certain amount of analyst support. Ford stock is considered a Moderate Buy, supported by seven Buy ratings, eight Holds, and one Sell. Further, with an average price target of $15.53, Ford stock also offers investors a 23.99% upside potential.