Ford Motor Co. (NYSE: F) appears to be winning the battle with General Motors Co. (NYSE: GM). Goldman Sachs has weighed in on these 2 Key US auto makers, and the outlook is definitely in favor of Ford.
Analysts raised Ford to Buy from Neutral and the price target was raised to $19 at Goldman Sachs. Ford has a consensus price target of 17.35 and a 52-wk trading range of 13.26 to 18.12.
Goldman Sachs downgraded GM to Neutral from Buy, and the price target was cut to 40 from 47.
An instrumental driver for Ford was a strong growth outlook. The benefits from its pricing, volume and mix are starting to roll in from the F-150 launch, plus a stronger position in China.
Last Tuesday, Ford announced that it has started a “Peer-to-Peer Car Sharing” program and a “multimodal mobility” solution. Under the car sharing plan, the company’s credit division is inviting 14,000 US customers in 6 cities and 12,000 customers in London to register to rent their Ford-financed vehicles to pre-screened drivers for short-term use.
Ford’s customers will use a Web-based, mobility app from ride-share company Getaround, while London’s drivers connect through a similar rental system from easyCar Club. The company said that its customers were looking for ways to share the costs of vehicle ownership.
This plan is in the same vein as Uber but with a twist. And, it is a big step forward for the auto giant in terms of riding this socially progressive wave.
|Analysis for F:||Overall||Short||Intermediate||Long|
|Neutral (-0.09)||Neutral (0.00)||Neutral (-0.09)||Neutral (-0.18)|
|Recent CandleStick Analysis
|24 June 2015||DOJI|
|22 June 2015||DOJI|
|Down||17 April 17-2015||15.93 to 15.88|
|Down||26 March 2015||16.18 to 16.17|
|Support and Resistance|
|VBu=Very Bullish, Bu=Bullish
Be=Bearish, VBe=Very Bearish
Have a terrific weekend!