JPMorgan Maintains an Overweight Rating on Ford Motor Company (F)

Ford Motor Company (NYSE:F) is one of the best affordable stocks to buy under $20. On October 20, JPMorgan analyst Ruyan Brinkman maintained an Overweight rating on Ford Motor Company (NYSE:F), lifting the price target on the stock to $14 from $13.

Why Ford’s (F) Dividend Makes it a Top Buy Under $20

The rating update came as part of a Q3 preview for the autos group, with the firm stating that it raised estimates for the auto suppliers (its preferred sector segment) because of favorable trends in commodities and currencies and stronger global light vehicle production.

The firm also slashed estimates for rental car companies, citing more aggressive pricing for them and a rise in low-cost imports for tiremakers.

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. It is the third-best affordable stock under $20 to add to your portfolio.

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.