Ford Motor (F) - Get Ford Motor Company Report shares on Tuesday wavered after the auto titan received positive commentary from RBC Capital Markets in a preview of Ford’s investor day presentations on Wednesday.
RBC analyst Joseph Spak has a sector-perform rating and $13 price target for the company.
Ford recently traded at $12.99, off 0.5%; it has traded on Tuesday up as much as 2.8% at $13.43. The stock has jumped 39% over the past six months amid optimism over the economy and the company’s business performance.
As for investor day, “Expect a lot of focus on F-150 Lightning profitability,” Spak wrote in a commentary, referring to Ford’s new electric truck..
“We believe Ford released a very compelling product now to protect their franchise over time. Also expect Ford to focus more on work, as with today's Lightning Pro announcement.”
Ford said on Monday that the F-150 Lightning Pro will have a starting price of $39,974 for one version and $49,974 for another.
The $39,974 price “was significantly lower than we expected (by almost $20,000),” Spak wrote.
TheStreet.com Chartist Brent Kenwell last week discussed how to trade the stock, following Ford’s announcement of the electric truck.
In other Ford news last week, the Dearborn, Mich., company told CNBC it would trim output of its vehicles, including its top-selling F-150 truck, intermittently through June at eight North American plants, due to the semiconductor shortage.
Other vehicles that are part of the manufacturing suspension include the Mustang, Escape crossover and Bronco Sport SUV.