UBS analyst Joseph Spak lowered the firm’s price target on Ford to $12 from $13 and keeps a Buy rating on the shares. The firm believes a shift to more ICE vehicles can cause earnings to be more resilient than the market expects, the analyst tells investors in a research note. The market appears to be pricing in $1.50 in 2023 EPS vs. the firm’s new $1.65 forecast, UBS says.
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