Things have not been great for Big Three automakers lately, and Ford (NYSE:F) seems to be taking it on the chin as hard as anyone else. And the latest news is none too welcome, as it sent Ford down somewhat in Thursday morning’s trading. Ford’s attempt to land an investor in a plant in Saarlouis, Germany, has failed, which leaves the site’s ultimate fate in limbo.
Ford was attempting to put together a new German plant, but without the investor to put up some of the needed cash, it’s all but out of the picture now. In a move that will likely not endear unions to anyone, union representative Joerg Koehlinger noted that not only would talks continue but that it would be “expensive for Ford.” The union would “…send a signal so that other companies will be afraid to flatten sites.” However, Ford has a plan to save at least some of the jobs involved; 1,000 of those jobs will be maintained under what was called an “alternative plan” that may ultimately see Ford build a technology center on the site.
Is Ford a Buy, Sell, or Hold Stock?
Turning to Wall Street, Ford stock currently stands as a Moderate Buy consensus rating supported by seven Buy ratings, eight Holds, and one Sell. Further, with an average price target of $15.41, Ford stock offers investors 30.43% upside potential.
