Ford price target lowered to $15 from $16 at JPMorgan

JPMorgan analyst Ryan Brinkman lowered the firm’s price target on Ford to $15 from $16 and keeps an Overweight rating on the shares. The analyst believes Tesla’s "aggressive" price cuts could help "catalyze and accelerate what may have otherwise been a more modest or protracted pricing normalization process." The price cuts are positive for the consumer, negative for Tesla, negative for other automakers and potentially positive for parts suppliers, the analyst tells investors in a research note. The firm says an "undemanding valuation" keeps it positive on GM and Ford despite what may be a round of negative earnings revisions.