Goldman Sachs analyst David Tamberrino recommends using the recent pullback in shares of Ford Motor as a buying opportunity. He raised his price target for the shares to $13 from $12 and reiterates a Buy rating on the name. Near-term catalysts from European restructuring actions "can help crystallize" upside in Ford shares, Tamberrino tells investors in a research note. The analyst believes investors will begin to start "underwriting improvement" in the company's European region as restructuring actions come to fruition. Tamberrino sees over 38% total return potential to Ford shares.

Ford is recalling over 456,000 Bronco Sport and Maverick vehicles due to a battery detection issue that can result in loss of drive power, increasing the risk of a crash, Wyatte Grantham-Philips of The Associated Press reports, citing documents published by the National Highway Traffic Safety Administration. The recall covers about 403,000 model year 2021-2024 Bronco Sports produced between February 2020 and March 2024, as well as more than 53,000 model year 2022-2023 Mavericks manufactured from February 2021 to October 2022, according to the report. A Ford spokesperson confirmed to The Associated Press Wednesday, that the software update should arrive by later in the second quarter, commenting that "safety is a top priority, and we are taking proactive measures to address this issue promptly and effectively." Reference Link