Is Ford Motor Company (F) One of the Top Cheap Stocks Under $20 to Buy Now?

Ford Motor Company (NYSE:F) is one of the top cheap stocks under $20 to buy now. On December 22, Evercore ISI lifted the price target on Ford Motor Company (NYSE:F) to $14 from $12 while keeping an In Line rating on the shares. The rating update reflects a positive outlook supported by a shift of focus on the US ICE/hybrid vehicles, along with higher F150 production.

Morgan Stanley Starts Ford (F) Coverage With $14 Target Amid Prolonged EV Slowdown

Separately, Ford Motor Company (NYSE:F) announced on December 15 the next generation of the F-150 Lightning, which management called a truck engineered to “redefine” the abilities of an electric pickup. The next-generation F-150 Lightning leverages advanced Extended Range Electric Vehicle (EREV) technology to offer the instant and seamless power of an electric powertrain, along with the freedom of a generator-backed estimated range of more than 700 miles.

The F-150 Lightning EREV is 100% propelled by electric motors, differentiating it from a traditional hybrid and ensuring that the owners get the pure EV driving experience that includes rapid acceleration and quiet operation without the need for stopping and charging during long-distance towing. Ford Motor Company (NYSE:F) also stated that, similar to the current F-150 Lightning, the next-gen version would also offer exportable electricity capable of powering everything, ranging from work and camp sites to homes during a power outage.

Ford Motor Company (NYSE:F) manufactures, distributes, and sells automobiles. It operates through the following segments: Ford Blue, Ford Model E, Ford Pro, Ford Next, Ford Credit, and Corporate Other.

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.