Ford Motor Company (F) has seen its stock downgraded to “Equal-weight” from “Overweight” by Morgan Stanley analyst Adam Jonas. While GM acquired a price target leap.
The analyst is convinced that Ford faces “substantial headwinds” while the company’s strategy on electric vehicles (EV) is still unclear.
Jonas takes note of a successful year for Ford as the company has “successfully navigated through a very challenging 2020 while preserving its financial position”. The financial flexibility will pave the way for investing in EV products, but 2021 may prove to be a crucial year for Ford.
On the other hand, General Motors (GM) has witnessed its price target increase to $53.00 per share from prior $44.00 after the company committed to go “all in” on electric vehicles.