UBS Lowers Ford Price Target to $14

UBS analyst Joseph Spak lowered the price target on Ford (NYSE: F) to $14.00 (from $15.00) while maintaining a Buy rating.

“What’s new? What’s changed? We lower our 2027 EPS forecast by ~10% to $1.88, we’d expect a similar level of revision to consensus.

There were a lot of moving pieces to the 1Q26 results and the 2026 outlook, but at the end of the day, what you need to know is that the new “jumping off” point for 2027 (ignoring some of the Novelis noise) is now $9.75bn, ~$1bn lower than prior as higher commodity costs increasingly eat into Novelis benefits. On top of that we still see 2027 earnings growth driven by higher SuperDuty capacity/output, improved Model E loss, a potential for richer Blue mix, but our path to $2 is pushed out a year.

Beyond 2027, we still see higher earnings potential from an emerging battery energy storage system (BESS) opportunity, and more focus on higher margin Pro software, but this trajectory too is pushed out a year.

As such, our PT goes to $14 from $15 but we remain Buy rated.”

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