(CercleFinance.com) – Wells Fargo renewed its ‘underweight’ advice on Ford on Tuesday following the warning issued overnight by the American automaker.
In a note, the analyst recalls that the group said last night that it was now aiming for an adjusted operating profit (Ebit) of between 1.4 and 1.7 billion dollars in the third quarter, a target well below the consensus. current figure, which hitherto stood at around three billion dollars.
The intermediary attributes this delay to the freezing of the assembly of 40,000 to 45,000 vehicles due to lack of components, models with high profit margins whose finalization should be completed during the course of the fourth quarter, he continues.
Wells Fargo adds that Ford reported that inflationary pressures exceeded its expectations by around $1 billion in the third quarter.
Despite all these elements, the group has maintained its objective of an operating profit of 11.5 to 12.5 billion dollars this year, a figure which implies – according to the analyst’s calculations – the achievement of a Ebit ‘record’ of some 4.4 billion dollars in the fourth quarter
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