If you happen to be planning a road trip for Labor Day weekend, and drive an electric vehicle, then legacy automaker Ford (F) may have a welcome deal for you. Reports note that the Ford Charge network of DC fast chargers has gone live, offering charger access to every vehicle compatible. The news gave shareholders a bit of a boost, and sent shares up fractionally in Friday afternoon’s trading.
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With this network now online, reports noted, over 1,200 total Ford dealerships will make their DC fast charging platforms available to electric vehicle drivers. Ford drivers, of course, are in on the deal, but with Ford moving to the North American Charging Standard—some vehicles need adapters, reports note—that opens up the field to Tesla (TSLA) vehicles as well.
Meanwhile, apps will help drivers determine where charging locations near them are, including availability and pricing data. However, some reports note that if the chargers are located at dealerships, there may be some accessibility issues after business hours. Thus, take the listings with a grain of salt and consider calling ahead before driving out.
“The Essential Economy’s Productivity Gap”
Meanwhile, Ford CEO Jim Farley offered up some commentary recently about what he calls the “essential economy’s productivity gap,” and why it should concern all of us. Farley spent a lot of time as a mechanic back in his business school days, and so has an idea of what it is to work with his hands. The workforce that commonly works like that, the “essential economy,” has about 95 million Americans to its credit, and it is struggling.
Productivity in the white collar economy is on the rise, thanks to things like cloud computing and better tools. But the essential economy is seeing production declines. Farley calls on workforce development on multiple levels, to help rebuild the shortfall in positions like auto techs. Cultural developments, like the near-universal demands for college classes high school students see, will also likely help.
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 three Sells assigned in the past three months, as indicated by the graphic below. After a 4.65% rally in its share price over the past year, the average F price target of $10.77 per share implies 8.34% downside risk.
