So far 2017 has been a rough year for Ford Motor Co. (NYSE: F), and it doesn’t seem to be getting any better. At least this is what analysts are saying. The stock is down nearly 10% year to date, while the U.S. broad markets that have gained more than 10% in 2017.

Nomura downgraded Ford to Neutral from Buy and lowered its price target to $11.60 from $14.80, but that still implies upside of 6% from the most recent closing price.

Ultimately, the firm noted that sport utility vehicles from competitors will pose a threat over the coming year and Ford could lose out on some potential sales. Accordingly, Nomura expects to see Ford U.S. sales to drop by between 1% and 4%.

Nomura’s Anindya Das detailed in the report:

Strong branding had allowed Ford to gain share and stave off competition in midsize SUVs, despite aging products. Going forward, we see competitors succeed in gnawing away at Ford’s lead in the segment. In full-size pickups, we expect the model cycle to start to turn against Ford in 2019.

A few other analysts have recently weighed in on Ford:

• Piper Jaffray has a Buy rating with a $14 price target.
• Deutsche Bank has a Hold rating with a $14 price target.
• Guggenheim has a Neutral rating with a $13 price target.
• Merrill Lynch has a Buy rating with a $12.50 price target.
• Berenberg Bank has a Sell rating with a $10 price target.
• Wolfe Research has a Market Perform rating.
• Morgan Stanley has an Underweight rating with a $10 price target.

Shares of Ford were last seen down 0.5% at $10.88, with a consensus analyst price target of $12.42 and a 52-week range of $10.67 to $13.27.

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