Is Ford (F) Stock a Buy With the Fathom EV on the Way?
TLDR
- Ford stock rose 1.5% to $14.62, with an average analyst price target of $15.68
- Ford plans to sell over 100,000 units of its ~$30,000 Fathom electric pickup in its first year
- The Fathom would be the first non-Tesla EV to hit six-figure single-model sales in a year if the target is met
- Ford beat Q2 EPS estimates ($0.42 vs $0.33 expected), though revenue fell 3.8% year over year
- Risks include a recall of ~148,663 Mustang vehicles, weak U.S. sales, and questions about dividend sustainability
Ford Motor (F) climbed 1.5% on Friday to $14.62, lifted by investor reaction to the companyโs ambitious sales target for its upcoming Fathom electric pickup truck.
Ford says it plans to sell more than 100,000 units of the Fathom in its first year on the market. The truck is priced at around $30,000, putting it in range for buyers looking to move away from gas or hybrid models.
If Ford hits that number, it would be the first EV maker outside of Tesla to sell over 100,000 units of a single model in one year. For context, General Motors sold around 170,000 EVs last year, but that was spread across its entire electric lineup.
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