What the analyst said
UBS analyst Joseph Spak reiterated on December 16, 2025, a ‘Neutral’ rating and $12.50 price target on Ford.
“Ford announced a $19.5bn write down related to their EV assets and product roadmap.
The majority of the $19.5bn in special items will be in 4Q25…
We expect stock could react favorably to the guidance raise and 2026+ Model e commentary, but there is a lot to digest and many moving pieces.
Net, we see this as a bold action and write down that likely removes years of future losses.
However, Ford is not turning away from EVs (BEVs and EREVs) just using new platforms.
So the risk is still will NA consumers want a BEV small pickup (starting in 2027 built off the Universal EV Platform (UEV) and an EREV F-150.
The Stellantis Ramcharger EREV may be an early test of consumer appetite for such a product.
Further, Ford is entering a new business in energy storage system (ESS) that will require investment but could end up being a clever repurposing of some assets.
Currently, webelieve there is a supply/demand imbalance for ESS LFP cells/systems in the US that provides F with an opening (provided they can execute and use their license which release seems to indicate).
But over time, we think they will need to show good execution and a continued business case with strong market structure (e.g. no commodification) to justify committing further capital for growth.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
Where the price stands
F trades at $11.94. The 6 analysts who set a target in the last 3 months range from $12 to $20, with a median of $14.50. This $12.50 target is 14% below the median.
Since the note F has moved −13% (from $13.65). 12-month window: day 332 of 365, closes on December 16, 2026.
Track record
This call✓ Target reached on March 5, 2026, 3 months after the note.
Firm track recordUBS: 81% of its 54 targets at least a year old were reached within 12 months (#8 of 26 firms). Accuracy ranking →
UBS on Ford
UBS price targets on Ford
6 calls from December 16, 2025 to October 7, 2026. The target went from $12.50 to $15 (+20%). The rating moved from Hold to Buy.
- October 7, 2026Target cut from $17 (−12%)Buy$15
- September 9, 2026Target raised from $14 (+21%)Buy$17
- May 6, 2026Kept the $14 targetBuy$14
- April 30, 2026Upgraded to Buy, target raised from $12.50 (+12%)Buy$14
- January 8, 2026Kept the $12.50 targetHold$12.50
- December 16, 2025 This noteEarliest call shownHold$12.50
Other analysts on Ford
CitiBuy
Kept rating and price targetReiterated · Nov 2
$20maintained
RBC CapitalHold
Cut price target −7%, kept ratingCut target · Oct 29
$14from $15−7%
Morgan StanleyHold
Cut price target −7%, kept ratingCut target · Oct 29
$13from $14−7%
Goldman SachsHold
Cut price target −14%, kept ratingCut target · Oct 29
$12from $14−14%
JP MorganBuy
Cut price target −6%, kept ratingCut target · Oct 12
$16from $17−6%