Give legacy automaker Ford (F) credit; when it says “no boring cars,” it means it about as hard as it is possible to mean something like that. Even one of its newest electric car forays, the Mustang Cobra Jet 2200, is proving to be a powerhouse in many respects. The car is now the fastest electric car on the planet, reports note, after running a new quarter-mile track over the weekend. Ford stock gained fractionally in Monday afternoon’s trading.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
The reports note that the Mustang in question ran a quarter-mile track in 6.87 seconds, reaching speeds up to 221 miles per hour. This run was not only impressive, but it also shattered the old record also held by Ford and its Mustang Cobra Jet 1800. The Mustang pulled this feat off at the NHRA 4-Wide Nationals in Charlotte, North Carolina over the weekend.
Interestingly, despite what the name might suggest, the Cobra Jet 2200 is not simply a modified version of the 1800. Rather, it is a “…ground-up redesign that fundamentally rethinks how to deliver electric power down a drag strip,” reports note. The end result is an electric car that can bring out 2,200 horsepower, reach staggering top speeds, and can do so with a motor that weighs half of the previous generation’s motor while squeezing out an extra 600 horsepower.
The Unexpected Connection
One surprising report also emerged about Ford: an unexpected connection to Disney (DIS). It turns out that Walt Disney, backed up by animator Ward Kimball, hit the Chicago Railroad Fair and then headed over to Dearborn to check out the Ford Motor Company complex. A trip to the River Rouge plant then finished the matter, opening Walt’s eyes and subtly shaping the future of the Disneyland amusement park.
“Themed” spaces in the Railroad Fair and in Greenfield Village provided the basis for the themed areas of the theme park, reports note. And the sheer level of automation at the River Rouge plant also delivered insight that went into the plant’s construction. Some even credit River Rouge with the first stirrings of Tomorrowland at Disney.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on three Buys, eight Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 23.55% rally in its share price over the past year, the average F price target of $13.79 per share implies 10.51% upside potential.
