Stock Market Today, Jan. 8: Ford Rises After Analyst Upgrade Boosts Confidence in Turnaround
Thursday’s action is centered on Ford’s analyst upgrade and its CES driver-assistance roadmap. Investors are watching upcoming Q4 results to gauge execution on EV and software plans.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) finished flat at 6,921, while the Nasdaq Composite (NASDAQINDEX:^IXIC) slipped 0.44% to 23,480. Within the Automotive industry peers, General Motors (NYSE:GM) and Toyota Motor (NYSE:TM) rose 3.89% and 0.70%, respectively, as investors weigh hybrid demand trends and competitive EV positioning.
What this means for investors
Ford stock surged to a new 52-week high today after an analyst upgrade and a well-received presentation at the recent CES convention in Las Vegas. Piper Sandler upgraded Ford to the equivalent of a buy rating, raising its price target from $11 to $16.
That upgrade came after the automaker impressed analysts with its autonomous driving technology plan for Level 3 “eyes-off” system by 2028, built on a new EV platform. A successful push into autonomy software could drive future revenue and profit sources for Ford.
Last week, Ford increased its 2025 earnings outlook, even as it booked nearly $20 billion in charges related to changes in its electric vehicle business plan. That focus on profitability has investors boosting Ford stock.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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