Legacy automaker Ford (F) has had a particular interest in changing the driving habits of everyone around it for some time now. It all started from “no boring cars,” and grew into a passion so pronounced that even its electric vans are a hit at the Nurburgring. And Ford shares notched up slightly in the closing minutes of Tuesday’s trading thanks to all new plans to take on some “problems” in the field.
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Ford CEO Jim Farley declared that one of Ford’s biggest problems was “…all those generic, two-row crossover (SUVs) that dominate our industry.” And the way to address that problem—never mind that Ford has generic two-row crossover SUVs of its own, including the Bronco, the Bronco Sport, the Mustang Mach-E and the soon-to-be-decommissioned Ford Escape—was the pickup. Farley, addressing the workers in Louisville, Kentucky, declared that the new truck to be produced through the new universal platform, would solve the problem thanks to a series of new features.
Farley declared that the new truck would be “more spacious inside than the RAV4,” as well as offering not only an entire pickup bed for cargo room, but also a “frunk.” This represents a level of flexibility not readily found elsewhere, Farley noted. From there, hopefully, it would result in sales from drivers desperate for flexibility.
Last Chance for a GT Mk IV
But the Escape is not the only car of Ford’s about to be decommissioned. The Ford GT Mk IV is also going soon, noted Ford Performance. Those who want one of these impressive little speedsters will want to get in on the action before it is too late. The third and final wave, coming available soon, boasts a 3.8-liter EcoBoost V6 engine, which can produce 820 horsepower.
The impact of this sale may be limited, however, as the third wave is apparently not one of the street-legal Ford GT models, but rather, a “track-only” model. Only 67 of these cars were produced, reports note, and all but a handful are already spoken for. Still, for the few scant scraps left, orders are being taken.
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 7.3% rally in its share price over the past year, the average F price target of $10.77 per share implies 7.08% downside risk.
