Barclays Downgrades Ford, Cuts Price Target By 26%

Barclays analyst Brian Johnson downgraded Ford Motor Co F to Equal Weight from Overweight with a price target of $17, down from $23, implying a 10.39% upside.
Johnson said that the investors underestimated the risk of inflation, production pressure, and the impact of interest rate hikes in the auto and auto parts sector.
The analyst cited soft execution and the sectoral headwinds as the cause for the downgrade of the shares.
Ford reported a 25% slump in sales in the U.S. for March, impacted by the global semiconductor chip shortage.
Price Action: F shares are trading lower by 1.30% at $15.19 in premarket on the last check Thursday.