Ford s forecast in focus as it wraps up year with quarterly loss Toggle share menu
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Ford s forecast in focus as it wraps up year with quarterly loss
Ford Motor CEO Jim Farley walks to speak at a news conference at the Rouge Complex in Dearborn, Michigan, on Sep 17, 2020. (Photo: REUTERS/Rebecca Cook)
04 Feb 2021 04:25AM (Updated:
04 Feb 2021 05:49AM) Share this content
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NEW YORK: Ford Motor Co s investors are likely to brush aside the company s quarterly loss on Thursday and focus on its 2021 forecast and production target for the revamped F-150 pickup truck, a consistent bestseller in the US automobile market.
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Tesla earnings: Can sales growth match stock’s rise? MarketWatch 1/23/2021
EARNINGS OUTLOOK
Tesla Inc. is expected to report fourth-quarter results after the bell on Wednesday, with all eyes on the Silicon Valley electric-car maker’s sales goals for 2021.
On a call in October to discuss Tesla’s third-quarter earnings, one analyst estimated 2021 sales between 840,000 to 1 million vehicles, and Chief Executive Elon Musk responded that it likely would be “in that vicinity,” and that the analyst was “not far off.”
Chief Financial Officer Zach Kirkhorn then added that Tesla would provide official 2021 guidance when it reports fourth-quarter results, seemingly preventing Musk from saying more.
Shares of
Ford Motor Company (NYSE:F) were moving higher for a second day on Thursday, after a Wall Street analyst placed the stock on his firm s short-term buy list.
As of 11 a.m. EST, Ford s shares were up about 11.5% from Wednesday s closing price.
So what
In a note released on Wednesday morning, Deutsche Bank analyst Emmanuel Rosner added Ford to the bank s short-term Catalyst Call Buy List, a group of stocks that could move higher following a catalyst event. Rosner maintained a long-term hold rating on the shares, but raised his price target to $11 from $9.
Rosner thinks that Ford s earnings report next month, and specifically its 2021 guidance, could prove to be a catalyst. He sees strong volume growth for U.S. auto sales in 2021, as the country recovers from the pandemic, and he believes that Ford s robust new-product cycle has put it in position to outperform.