Ford Motor Company (F)
by Zacks Equity ResearchJuly 06, 2012 | Comments : 0 Recommended this article: (0)
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Despite exceeding the Zacks Consensus Estimate by $0.04 per share in the first quarter of 2012, the company's profits fell sharply by 20% to $1.6 billion. Profits from all the operating regions declined except North America. Revenue in the quarter slipped 2% to $32.4 billion, barely surpassing the Zacks Consensus Estimate.
As such, we have downgraded our recommendation on the stock to Underperform from Neutral and set a target price of $8.75. This valuation is derived at 6.5x 2012 EPS, and reflects our recommendation downgrade.
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