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Citi cuts estimates on Ford, maintains Buy rating
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Citi Research reiterated a Buy rating on Ford Motors (NYSE:F) and cut their 12-month price target on the stock to $15.00 (From $17.00) after the Detroit automaker updated guidance to reflect recent concessions made to workers following a UAW strike.
Analysts cut their 2023-2024 estimated EPS by around 11-12%. Additionally, there has been a minor downward adjustment of 2% for the 2025 estimated EPS. However, it's worth noting that the projected estimates for 2024 and 2025 still stand considerably higher than the general consensus among analysts.
It was also noted that there are “No major changes to LT view of Ford’s EPS strength.”
Shares of F are up 0.38% in early trading Tuesday morning.
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