Shares of Ford Motor (NYSE:F) continue to take a big hit today, after plummeting 13 percent on Friday, as expectations for the automaker continue to fall, as commodity costs rise.
Goldman Sachs (NYSE:GS) analyst Patrick Archambault lowered his outlook on Ford Sunday, saying, "Our new estimates reflect higher and more back-end loaded fixed costs than we previously modeled."
He added that over the long haul he sees the increase in costs as important to retaining product leadership, adding, "we see these outlays as essential to extending Ford's product leadership."
Fixed cost inflation was boosted to $2.6 billion for 2011, up from the prior estimate of $1.5 billion.
Goldman maintains their "Buy" rating on Ford, which was trading at $15.88, falling $0.40, or 2.43 percent, as of 1:52 PM EST. Goldman lowered their price target on Ford from $22 to $20.
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