Ford price target lowered to $12.50 from $14 at Citi

Citi analyst Itay Michaeli lowered the firm’s price target on Ford to $12.50 from $14 and keeps a Neutral rating on the shares. The company’s recently affirmed guidance suggests a low probability of a downward revision, but Q1 will provide a glimpse into execution following a tough second half of 2022, the analyst tells investors in a research note. The firm believes Ford can stay earnings positive in "most hard landings with ample liquidity," but macro risks cause it to trim earnings estimates.