So yesterday’s news about a much better electric pickup from legacy automaker Ford (F) actually came at a pretty good time. Or, perhaps, a little too late. Because a new report from Electrek detailed how Ford’s future is looking “bleak in Europe” over its lineup of electric vehicles. Investors took that to heart and sent shares down over 1.5% with it.
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Ford has been cutting jobs in Europe for the last few months, and by 2027, will cut another 4,000 on top of what has already been done. And a survey from Automobilwoche noted that almost half of respondents, 45%, expected “poor results” out of Ford’s future in Europe. Another 37% were undecided, but just 5% considered themselves “rather optimistic.”
So why are so many Europeans pessimistic about Ford’s chances in their own backyard? Much of it revolves around electric vehicles. While the European market is moving toward electric cars, Ford’s own movement in that direction has been somewhat muted. Remember, the impressive new Ford electric pickup touted only recently will not be in play until “late 2027.” Though certainly, Ford has electric winners—its Supervan 4.2 is one of the fastest cars the Top Gear test track has ever seen—these are not enough to convince Europeans.
Police Go Harder on Gas Guzzlers
And while Europeans bemoan the lack of electrics at Ford, American police are looking to one of Ford’s biggest gas-powered cars for their line of patrol vehicles. The Ford Expedition, one of the biggest SUV Ford makes behind the Excursion, is now available for order banks in police use.
As it turns out, the police-ready Excursion is not much different from its civilian counterpart. Ford deliberately leaves the Expedition SSV, noted a Motor1 report, open for special lights and fixtures that are typically addressed by aftermarket vendors. Also proving popular with police: the Explorer, the Transit Van, the F-150 pickup, and the Mustang.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on four Buys, eight Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 12.38% loss in its share price over the past year, the average F price target of $10.89 per share implies 11.12% upside potential.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
