Ford Motor Co. (NYSE: F) appears to be winning the battle with General Motors Co. (NYSE: GM), at least according to a key investment bank. Goldman Sachs has weighed in on these two key U.S. auto manufacturers, and the outlook is definitely in favor of Ford.
Ford was raised to Buy from Neutral and the price target was raised to $19 (versus a $15.29 close) at Goldman Sachs. Ford has a consensus price target of $17.35 and a 52-week 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 (versus a $36.30 close).
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, not to mention a stronger position in China.
ALSO READ: 7 Car Brands That Cost Less Than They Used To
Separately, GM is suffering from weaker guidance in China. This is due to increased competition and rising GM truck incentives.
Despite this call, GM has actually had a better year than Ford. GM shares are up nearly 6% year to date, while Ford shares are up just 0.6% in the same time frame.
Ford announced Tuesday that it has begun 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 U.S. customers in six cities and 12,000 customers in London to register to rent their Ford-financed vehicles to prescreened 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.
Seemingly this plan is in the same vein as Uber but with a slightly different twist. However, it is most definitely a big step forward for the auto giant in terms of riding this socially progressive wave.
Shares of Ford were up 1.6% at $15.53 on Wednesday afternoon. The stock has a consensus analyst price target of $17.35 and a 52-week trading range of $13.26 to $18.12.
GM shares were down 2.7% at $35.32, in a 52-week trading range of $28.82 to $38.99. The consensus price target is $42.63.
ALSO READ: 13 Cars That Cost More Than They Used To
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.