Ford Q1 results better than expected, says BofA

BofA notes that Ford’s (F) Q1 results were better than expected, though the company is suspending guidance even while stating that the business remains strong and is tracking in line with previous guidance of $7.0B-$8.5B in adjusted EBIT. Ford delivered “a solid performance” in Q1 and the lower losses in Model e were “encouraging,” says the analyst, who adds that while the estimated impact from tariffs is “not insignificant,” the firm thinks it is “relatively manageable in the greater scheme of things.” Ford is also well-positioned to capitalize on its large U.S. manufacturing footprint, says BofA, which reiterates a Buy rating and $14 price target on the shares.