Ford Motor (NYSE:F) is drawing fresh attention from two major Wall Street firms. UBS upgraded F stock to Buy from Neutral, while Goldman Sachs trimmed its price target but kept a Neutral rating. Together, the calls frame a stock at a crossroads: real earnings power building beneath the surface, with near-term headwinds still in play.
UBS analyst Joseph Spak upgraded Ford to Buy from Neutral with an unchanged price target of $15, citing a credible path to meaningful earnings growth. Goldman Sachs analyst Mark Delaney lowered the firm’s price target on Ford to $13 from $15 while keeping a Neutral rating, pointing to softer near-term conditions across the auto sector.
| Ticker | Company | Firm | Action | Old Rating | New Rating | Old Target | New Target |
|---|---|---|---|---|---|---|---|
| F | Ford Motor Company | UBS | Upgrade | Neutral | Buy | $15 | $15 |
| F | Ford Motor Company | Goldman Sachs | Price Target Cut | Neutral | Neutral | $15 | $13 |
The Analyst’s Case
UBS envisions a compelling earnings recovery story unfolding at Ford. The firm sees a “credible path” to Ford earning over $2 in earnings per share in 2027, or 17% above consensus. That’s a bold call relative to where the Street currently sits.
Beyond 2027, UBS believes Ford should head toward $3 in earnings per share power, driven by its product portfolio, a “more lenient” U.S. regulatory backdrop, and a “more pragmatic” electric vehicle strategy. The firm also argues that concerns over higher gasoline prices and higher aluminum prices are overdone in Ford shares.
Goldman Sachs takes a more cautious stance. Auto OEMs and suppliers are expected to deliver in-line to softer results this quarter due to rising input costs and weak Q1 auto sales in China. That context explains the target trim, even as Goldman stops short of a downgrade.
Company Snapshot
Ford reported strong operational results in 2025 despite EV write-downs. Full-year revenue came in at $187.27 billion, with operating cash flow of $21.282 billion, up 38% year over year. The balance sheet carries $23.356 billion in cash and equivalents.
Ford Pro remains the crown jewel. Ford Pro paid software subscriptions grew 30% in 2025, and Super Duty pickups posted their best volume year since 2004, up 10%. Management is targeting an 8% adjusted EBIT margin by 2029, a significant step up from current levels.
Why the Move Matters Now
F stock is trading at $12.71, well below both the UBS target of $15 and the broader analyst consensus target of $14.04. The forward P/E ratio sits at 8x, suggesting the market is pricing in continued uncertainty rather than the recovery UBS envisions. For investors watching the price target debate, check out Tuesday’s top Wall Street analyst research calls.
Ford also carries a dividend yield of 5% at current prices, with $0.60 in annual dividends per share. For income-focused investors, that yield offers a tangible return while the earnings recovery thesis plays out.
What It Means for Your Portfolio
The divergence between UBS and Goldman Sachs captures exactly where Ford stands. UBS sees an underappreciated earnings recovery; Goldman sees near-term friction warranting patience. Both views are defensible.
If you believe Ford’s product cycle, Ford Pro momentum, and a pragmatic EV pivot can drive earnings toward $2 or more per share in 2027, the current valuation looks attractive. That said, tariff headwinds, quality costs, and ongoing EV losses are real risks. If the long-term recovery thesis plays out, a position sized accordingly could reward patient investors more than a short-term trade.
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