Citi lowered the firm’s price target on Ford to $15 from $17 and keeps a Buy rating on the shares after updating its Ford model for the recent guidance reinstatement post the UAW strike as well as other fresh industry data, including on the latest production and pricing/incentives. Though the firm’s 2023-2024 EPS estimates come down by 11%-12%, the analyst notes that Citi’s 2024E/2025 estimates “remain comfortably above-consensus.”
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