Fly News Breaks for February 21, 2020
Feb 21, 2020 | 08:32 EDT
RBC Capital analyst Joseph Spak lowered his price target on Visteon (VC) to $91 after its "rough print" with a Q4 earnings miss and below-consensus FY20 revenue guidance. The analyst notes that the coronavirus situation is "fluid" and the company's margin guidance was disappointing, but he keeps his Outperform rating and sees the outlook as "conservative" given the new business roll-ons and some caution around the Ford (F) F-150 launch based on the "hiccups" of prior Ford launches.
News For VC;F From the Last 2 Days
Dec 2, 2021 | 06:55 EST
Wolfe Research analyst Rod Lache downgraded Ford (F) to Peer Perform from Outperform with a price target of $22, up from $17. With Ford shares up about 80% since April and up 130% year-to-date, he now believes the stock reflects the upside that he has been anticipating based on the company's turnaround, Lache tells investors. Heading into 2022, Lache now prefers General Motors (GM), largely because he sees significant upside optionality from Cruise as they prove the commercial viability of their Autonomous Driving platform, adding that he believes "core GM" earnings are likely to surprise to the upside.
Nov 30, 2021 | 06:45 EST
Morgan Stanley analyst Adam Jonas noted that data from Motor Intelligence for October show that Ford (F) has sold 21,703 units of its all-electric Mustang Mach-E through the first 10 months of fiscal year 2021, while General Motors (GM) has sold a combined 24,810 units of its Chevy Bolt through the same period. However, according to the Detroit News, GM has made the decision to not produce the Bolt for the remainder of the year, so he predicts Ford's total FY21 battery EV sales will top GM's BEV sales in the U.S. this year. Jonas, who forecasts Ford's global passenger vehicle BEV volume to surpass GM's in FY22, while trailing GM modestly longer-term, keeps an Underweight rating and $12 price target on Ford shares.