In a report released yesterday, Michael Ward from Citi maintained a Hold rating on Ford Motor, with a price target of $13.50.
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Michael Ward has given his Hold rating due to a combination of factors impacting Ford Motor’s production and financial outlook. The company’s North American production in October experienced a significant decline of 19%, missing the initial schedule by 45,000 units. This shortfall was primarily due to a fire at a key aluminum supplier, which affected the production of Ford’s F-series pickup trucks, particularly at the Dearborn, Kansas City, and Kentucky plants.
These plants are crucial to Ford’s profitability, contributing to over 40% of its North American production and approximately two-thirds of its Global Automotive EBIT. Although Ford anticipates a recovery of the lost production in 2026, the immediate impact on production is expected to be less severe in November and December, with an estimated loss of 20,000 units each month. Given these production challenges and the expected share price return of 3.8%, Ward’s Hold rating reflects a cautious outlook on Ford’s near-term performance.
In another report released on October 27, Barclays also maintained a Hold rating on the stock with a $12.00 price target.