Bank of America Securities Reiterated a Buy Rating on Ford Motor Company (F), Kept the PT Unchanged

Ford Motor Company (NYSE:F) is one of the Undervalued Cyclical Stocks to Buy According to Hedge Funds. On August 12, Federico Merendi from Bank of America Securities reiterated a Buy rating on Ford Motor Company (NYSE:F) with a price target of $14.

The analyst highlighted the company’s strategic moves in the electric vehicle industry, noting the recent launch of Universal Vehicle Platform at “Our Next Model T Moment”. The company with a $2 billion investment Louisville plant aims to revolutionize the production of EVs. Management noted during the event that its first vehicle on the platform will be affordable pickups, which are expected by 2027, with a starting price of almost $30,000.

Bank of America Securities Reiterated a Buy Rating on Ford Motor Company (F), Kept the PT Unchanged

A close-up of an auto assembly line, revealing the complexity of the manufacturing process.

The analyst noted that Ford Motor Company’s (NYSE:F) strength in the commercial vehicle segment supports this plan. The company is taking on its competitors in the market and learning from leading EV players by simplifying its production, reducing vehicle weight, and cutting down costs. The analyst believes that these steps position the company well in the electric vehicle market, both domestically and internationally.

Ford Motor Company (NYSE:F) designs, manufactures, and sells a range of vehicles, including trucks, SUVs, commercial vans, cars, and luxury Lincoln vehicles.

While we acknowledge the potential of F to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than F and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.