Ford: price target lowered by Jefferies
(CercleFinance.com) - Jefferies reiterates its 'underperform' rating on Ford with a price target lowered from nine to eight dollars, after results that 'didn't reveal any additional bearish arguments, but didn't really address any of them either'.
For the time being, earnings are receding", notes the broker, who reduces his expectations for adjusted EBIT and EPS by 15% and 11% respectively, "all on the assumption of globally stable automotive policies that are subject to negative changes".
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