Some of you might have wondered if the CEO of legacy automaker Ford (F), Jim Farley, is related to Chris Farley of Saturday Night Live fame. It turns out that the two were indeed related, being first cousins. And Jim has some of Chris’ animated energy, as a recent interview in Rolling Stone revealed. But Jim Farley focused his energy on delivering the best in cars, not the best in pratfalling through coffee tables. Farley notes that the automobile industry is in a “come to Jesus” moment, but investors were less pleased to hear it. Ford stock fell fractionally in Friday’s trading.
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The car industry is in something of a state of flux right now. On the one hand, it is trying to produce electric vehicles that customers want and will be good for the environment. Years of being browbeaten by activists have left the car industry weary of the constant blame. But the car industry also wants to be around to see it, and after seeing the lackluster response to the earlier forays into electric vehicles, it knows that it has to deliver what people will actually buy.
Farley noted that the times we are in now will likely define the industry for years to come. He noted, “But, basically, this is a “come to Jesus” moment, or whatever metaphor you want to use, for the industry. It’ll be the ultimate fitness test for anyone to get through this wormhole as a vibrant company. A lot of companies will make it through, but as a vibrant company, that’s a whole different thing.”
Why Not Anywhere Else?
Ford rolled out a new feature for some drivers, as Ford Pro customers in Europe now have access to a built-in dashcam system. Reports note it connects to the Ford Pro Telematics system, and can capture footage that is stored locally on a microSD card of up to 128 gigabytes.
The footage is recorded in 1080p standard, with an 86-degree lens facing the road. The driver, meanwhile, is part of a 144-degree wide-angle view in the cabin itself. It can even detect hard braking or speeding, as well as “high-risk behaviors” like smoking, mobile phone use, or even driver fatigue.
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 24.3% rally in its share price over the past year, the average F price target of $13.79 per share implies 11.54% upside potential.
