JPMorgan analyst Ryan Brinkman hiked his price target on Ford Motor’s shares by $2, to $18 per share -- a Wall Street-high. Brinkman held his 'overweight' rating on the automaker.
The analyst cited an improving price mix, an easing of the global shortage in semiconductor supplies, and stable labor costs.
"Ford may not see the same degree of improvement in semiconductor availability in 2Q as GM but we believe it may see some, including after it was reported earlier this week that a fire-damaged semiconductor plant in Japan to which it is disproportionately exposed has nearly returned to full capacity," Brinkman noted.
According to Brinkman, Ford may also see tailwinds from the continued strong pricing environment, given the analyst’s estimate that the company’s management may have been more cautious at the time of 1Q earnings than was GM’s in flowing “extremely strong” 1Q pricing trends through the full year.
The company also said that 2021 production of its Endurance truck will be half prior expectations.
Lordstown incurred a net loss of -72 cents a share, compared with a loss of -28 cents a share expected by analysts polled by FactSet.The year-ago quarter’s loss was - 16 cents a share.
Chairman and CEO Steve Burns said Endurance production this year will be limited and would be "at best 50%" of the company's prior expectations of 2,200 trucks.
automaker General Motors is facing a probe from U.S. regulators into complaints the air bags on thousands of GM vehicles may not inflate in a crash.
The Office of Defects Investigation has received 15 consumer complaints of alleged air-bag-system malfunctions.Nine of those complaints mention the illumination of an airbag-malfunction indicator during the crash.
According to the National Highway Traffic Safety Administration, the inquiry covers nearly 750,000 Cadillac, Chevrolet and GMC SUVs and pickup trucks from the 2020 and 2021 model years.
In December, GM recalled nearly 840,000 vehicles for suspension problems or due to the possibility of the front seat belts on the vehicles failing.
The analyst mentioned parallels between Apple's "Think Differently" campaign and Tesla's power and storage goals.
"Consumers rave about the in-car software of Tesla and the ease of connectivity," Dorsheimer said."
According to Dorsheimer, as Tesla’s solar and energy storage products supply constraints are removed, “consumers will be able to become more entrenched in its electrification ecosystem.
Tesla's March deliveries in China lead to a solid outlook for the electric-car maker into the rest of 2021, according to Wedbush analyst Dan Ives.
On Friday, the China Passenger Car Association data showed that Tesla delivered 35,500 vehicles in March, about double the February level.
Ives mentioned in a note, "The narrative is [clear: Despite] the haters and bears focused on China EV sales softening in January, we have seen a storybook comeback from Tesla and domestic EV players NIO, Li Auto, Xpeng and others in this key region".
Wedbush expects a run rate of 300,000 units delivered in China for the year.Tesla has a target of delivering 850,000 vehicles worldwide.
"As this green tidal wave hits its next phase globally, ... the Tesla EV demand story is just starting to play out," Ives noted.
Wedbush maintained its outperform rating and $1,000 price target on Tesla shares.
Electric vehicle giant Tesla has raised prices in the U.S. - for the third time in the last month.
Model 3 Standard Range price has been hiked by $500 ($37,990 to $38,490); Model 3 Long Range non-performance price increased $500 ($46,990 to $47,490), while Model 3 Performance price raised by $1,000 ($55,990 to $56,990).
Model Y Long Range non-performance price increased $500 ($49,990 to $50,490).
Prices on the Model 3 have increased by $500 - $2,000 and Model Y by $500 - $1,000 since the start of the year.
The company's price increases over the last month potentially reflects strong demand.It delivered almost 5,000 more vehicles than they produced in the first quarter.
Tesla's vehicle inventory is at a nine days of supply, compared to the typical 60 to 80 days of supply that automakers’ inventories sit around.
General Motors is idling another north American plant due to to global chip shortage, CNBC reported. General Motors will temporarily close its facility in Spring Hill, Tennessee later this month. According to the the automaker's estimate, chip shortages will hurt its 2021 operating profit by as much as $2 million. For the two weeks ended April 5, GM's Wentzville, Missouri assembly plant was...
Ford Motor Co. is temporarily suspending production of its F-150 pickup truck at two locations due to the ongoing computer chip shortages. The automaker plans to halt F-150 production at its Dearborn, Mich. Plant for two weeks, starting Monday, as well as at its Kansas City plant. Overtime shifts will be halted at both plants until July. The company plans to update the effect on its financial...
Tesla Inc. will surpass Wall Street expectations of 170,000 deliveries for the first quarter, according to Wedbush analyst Daniel Ives.The analyst mentioned in a note Tuesday that Wedbush has updated its delivery model to reflect increased optimism. For the first quarter of 2021, Wedbush boosted its expectation on Model 3/Y estimates to 160,000 units from 132,000 units. For Model S/X vehicles...
Tesla Inc. CEO Elon Musk cautioned that a shortage in battery cell supplies could hamper his company's ability to ramp up production of the Tesla semi truck. On a conference call following Tesla's fourth quarter earnings, Musk said that while a Tesla semi would use “typically five times the number of cells that car would use", it "would not sell for five times what a car would sell for". Musk...
China electric carmaker NIO said that it is shutting a plant for five days, amid a global shortage in semiconductors. The temporary halt in production will start March 29, and will cut deliveries by atleast 500 vehicles in the first quarter (which implies an expected Q1 delivery of 19,500, versus prior forecast of 20,000 to 20,500). Global supply chains for semiconductors have been hurt due...
Electric truck maker Lordstown Motors posted a wider loss for the fourth quarter. It also disclosed an SEC probe following a short-seller's report. In its first report as a public company, Lordstown reported a net loss of -$38.2 million, or -23 cents a share, widened from -$7.1 million, or 10 cents. Revenue was zero, as the company hasn’t made any vehicles yet. Cash at year-end 2020 was $630...
Ford shares got a price target hike and rating upgrade from analysts at Barclays. Barclays analyst Brian Johnson boosted his rating on the automaker to overweight from equalweight. The analyst raised his price target by $3 to $16 per share, a Wall Street-high that implies a near-term gain of around +28% . According to Johnson’s note, a key reason behind the upgrade is Ford's new electric...
NIO reported a wider-than-expected loss for the fourth quarter. The automaker’s revenue, however, more than doubled from a year earlier. NIO incurred a net loss of -1.05 renminbi (-$0.16) per share in the fourth quarter, wider than analysts’ estimate of a -0.7 renminbi loss. Revenue surged +133.2% year-over-year to 6.641 billion renminbi (US$1.018 billion) in the quarter, but below Visible...
Electric carmaker Fisker said it signed a deal to make a new vehicle with Taiwanese electronic contract manufacturer Foxconn. Foxconn will manufacture the electric vehicle at projected annual volumes of more than 250,000. “We will create a vehicle that crosses social borders, while offering a combination of advanced technology, desirable design, innovation and value for money, whilst...
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With Tesla's Shanghai factory, the EV car maker will essentially double it's global manufacturing output, as it aims to become the undisputed leader in green driving.The move comes as Tesla reported its largest quarterly loss in history last week, having burned through $430 million in cash over the quarter. Tesla said it lost more than $717.5 million in Q2, but its cash burn rate was less than investors expected, and the company had $2.2 billion in cash at the end of the quarter.
Companies are increasingly using technology to deliver new-look financial services – banking apps, peer-to-peer lending, crowdfunding, and blockchain-based cryptocurrencies – that are bypassing traditional infrastructure and reshaping the financial sector in major ways.And is it here to stay?
Lessons from 2007-2008
2007-2008’s devastating financial crisis caught traditional companies by surprise.
A Morgan Stanley analyst initiated coverage of electric vehicle companies Fisker and QuantumScape with overweight ratings. Morgan Stanley analysts led by Adam Jonas set a $70 price target for QuantumScape. According to Jonas, it was among companies in the electric vehicle battery space offering "the most compelling strategies" and has positive risk/reward balance. QuantumScape went public...
On Thursday, Ford said it will cut production of its F-15 pick-up truck at two plants due to a worldwide shortage of computer chips. The F-150 is a big moneymaker for Ford . The automaker said that its Dearborn Truck Plant in Michigan will reduce to one shift from three for a week starting Monday. Truck production at its Kansas City Assembly Plant in Missouri will drop to two shifts from...
Tesla's meteoric rise over the last couple of years has disconnected the company's share price from its fundamental value, in my view. Consider that Tesla is still a barely profitable company whose market capitalization exceeds all other major US, European, and Japanese auto companies combined. What's more, Tesla's sales are just 1/50th of the other major automakers. Enter General Motors...