Ford Motor announced plans to build the first-ever all-electric version of its F-150 pickup trucks, which will be available from mid-2022. The automaker has also started production of the new-generation F-150 trucks at its Michigan facility, and expects them to go on sale in November.
F) plans to invest $700 million to build a new factory at the Rouge Complex to manufacture electric F-150 trucks. The Rouge Complex factory will add 300 new jobs.” data-reactid=”13″>In addition, Ford (F) plans to invest $700 million to build a new factory at the Rouge Complex to manufacture electric F-150 trucks. The Rouge Complex factory will add 300 new jobs.
See F stock analysis on TipRanks).” data-reactid=”14″>Ford CEO Jim Farley said that “F-Series pickups are the backbone of work and productivity across the country. And now we are preparing to build a fully electric version of America’s most popular vehicle, and it will be a seriously capable, purpose-built tool for serious truck customers.” (See F stock analysis on TipRanks).
Chris McNally upgraded the stock to Hold from Sell and maintained a price target of $8 (9.9% upside potential), citing auto cycle and a roll-forward to 2022 valuations. He is also giving Ford the "benefit of the doubt" regarding new CEO Jim Farley’s restructuring efforts.” data-reactid=”19″>On Sept. 8, Evercore ISI analyst Chris McNally upgraded the stock to Hold from Sell and maintained a price target of $8 (9.9% upside potential), citing auto cycle and a roll-forward to 2022 valuations. He is also giving Ford the “benefit of the doubt” regarding new CEO Jim Farley’s restructuring efforts.
price target of $7.43 implies upside potential of about 2.1% to current levels. Shares have declined 21.7% year-to-date.” data-reactid=”20″>Currently, the rest of the Street is sidelined on the stock. The Hold analyst consensus is based on 8 Holds, 3 Buys, and 1 Sell. The average price target of $7.43 implies upside potential of about 2.1% to current levels. Shares have declined 21.7% year-to-date.
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