Wolfe upgrades Ford to Peer Perform on tariff advantage

Wolfe Research upgraded Ford (F) to Peer Perform from Underperform without a price target. The White House last night released an executive order confirming large relief from auto parts tariffs, the analyst tells investors in a research note. Among the U.S. car markers, Tesla (TSLA) and Ford (F) would be most advantaged, since they also face minimal to no tariffs on finished vehicles, in light of their high U.S. vehicle production, contends Wolfe. As such, the firm upgarded Ford to Peer-Perform and has a strengthened view that Tesla’s setup is improving. Recent tariff developments could offer Ford a meaningful competitive advantage, the firm contends.