Market Overview

I think you’ll love what you hear,
what you’ll see and the opportunities
that will be set before you.
- Jon Najarian
GET TICKETS

Word Of Ford Range Raptor May Have Boosted Shares Of Fox Factory

Share:

Rumors of a potential Ford Motor Company (NYSE: F) Ranger Raptor prototype spread to the stock market on Wednesday morning.

After hearing the rumors, D.A. Davidson analyst Andrew Burns reiterated his Neutral rating and $34 price target on Fox Factory Holding Corp (NASDAQ: FOXF).

“In recent days, several auto news sources have posted articles and "spy photos" of a potential Ford Ranger Raptor. We believe this has been a contributing factor to today's stock move (+6%),” Burn said. “The leaked Ranger pictures began circulating on Monday, and appear to show a right-hand drive new-generation Ford Ranger with wider fenders, a shaved bumper similar to the F-150 Raptor, and beefier off-road tires.”

Burns also highlighted Fox Factory’s double-digit annual growth target.

“Given the success of the current Raptor, it is logical to think Ford is considering broadening the franchise. The re-launched Ranger would be a clear candidate for a Raptor line extension and we believe FOXF would have a high probability of being included on the new line.”

Thus, the Ranger could help catalyze annual growth. 

While this is still a rumor, Burns noted the Ranger could be launched in 2019 and the Raptor version might just be part of an initial launch.

Fox Factory closed Thursday at $35.

Latest Ratings for FOXF

DateFirmActionFromTo
Nov 2018MaintainsBuyBuy
Sep 2018MaintainsHoldHold
Sep 2018MaintainsNeutralNeutral

View More Analyst Ratings for FOXF
View the Latest Analyst Ratings

Posted-In: Andrew Burns D.A. DavidsonAnalyst Color Analyst Ratings

 

Related Articles (F + FOXF)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
CINFReiterates120.0
HARPAssumes
CLLSAssumes
XLRNAssumes
FLWSUpgrades22.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Dicks Sporting Goods Is Investing To Win The Long-Term Game

Nike's Q4 Earnings Beat Boosted By Sportswear, Running Segments