A Difference Of Sell-Side Opinion On Ford, GM
Analysts at Jefferies and Seaport Global both initiated coverage on Tuesday of the auto sector. Taking a closer look at the their respective outlooks reveals a differing of opinion between the two sell-side firms.
Analysts at Jefferies slapped an Underperform rating and $10 price target on Ford Motor Company (NYSE: F) which implies a downside of more than $2 per share. On the other hand, the analysts at Seaport Global named Ford's stock a Buy with a $20 price target.
The market appears to be taking Seaport Global's outlook more seriously, as evidence by the stock's more than 1 percent gain Tuesday.
Analysts at Jefferies initiated coverage of General Motors Company (NYSE: GM) with a Hold rating and $33 price target, which implies minimal upside from its current price.
Similarly, the analysts at Seaport Global are bullish on General Motors' outlook and assigned a Buy rating and $42 price target on the stock.
General Motors' stock was trading at $31.17 Tuesday, up 0.94 percent.
Jefferies lone Buy rating in the group is Fiat Chrysler Automobiles NV (NYSE: FCAU) which was given a $7.50 price target. Analysts at Seaport Global did not initiate coverage of the name.
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