What's Going On With Ford Motor Stock Today? (CORRECTED)

Editor’s note: This story has been updated to correct the name of the Bernstein analyst covering Ford.

Ford Motor Company (NYSE:F) shares are trading lower on Thursday. Bernstein analyst Daniel Roeska downgraded Ford Motor from Outperform to Market Perform, with a price forecast of $11.

In an unrelated development, Ford revealed on Thursday that it’s experiencing record sales growth within the Middle East in 2024, driven by strong performance in key markets and the introduction of its freshest lineup up to now.

The launch of the Mustang Mach-E and Territory Hybrid highlights Ford’s commitment to an electrified future within the region.

Kay Hart, president of Ford’s International Markets Group, stated that the Mustang Mach-E is Ford’s first fully electric vehicle for the region and described it as one of the exciting vehicles the corporate has ever produced.

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Moreover, Ford highlighted that it’s expanding its connected services offering, with the 2025 introduction of FordPass for purchasers within the Middle East.

“This success is attributable to strong market share gains by our distributors in key countries comparable to the United Arab Emirates, Kuwait, Bahrain, Qatar and Saudi Arabia,” said Ravi Ravichandran, president of Ford Middle East.

Next 12 months, Ford will speed up the launch of Ford Connected Services with the FordPass app first within the UAE, followed by Saudi Arabia.

This move further enhances Ford’s commitment to providing a greater connected driving experience.

Ford can also be enhancing its regional operations with the opening of a recent parts distribution center within the UAE, slated for January 2025. The power will enable faster delivery of parts to distributors, ensuring quicker service for Ford owners.

In accordance with Benzinga Pro, F stock has gained over 8% prior to now 12 months. Investors can gain exposure to the stock via First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) and WBI Power Factor High Dividend ETF (NYSE:WBIY).

Price Motion: F shares are trading lower by 1.79% to $10.99 eventually check Thursday.

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