(CercleFinance.com) – Ford fell 2% in New York as Wells Fargo announced on Thursday that it had lowered its recommendation on the stock by two notches, going from ‘overweight’ to ‘underweight’, with a lower price target from $24 to $12.
In a research note, the intermediary fears that the 2022 financial year will constitute a peak for the group in terms of results, the transition to electric vehicles then being called upon to penalize its accounts.
Wells Fargo especially highlights the great dependence of the second American car manufacturer on the range of F-Series pick-ups, which generates more than 60% of its profits, a situation which according to him makes it problematic to hand over to its electric version. , the Lightning.
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