Automotive giant Ford Motor Co (NYSE:F) reported fourth-quarter financial results that saw revenue and earnings per share beat estimates from analysts.

Here's a look at what analysts are saying about the report and what's ahead for Ford.

The Ford Analysts: RBC Capital analyst Tom Narayan had a Sector Perform rating and price target of $12.

Morgan Stanley analyst Adam Jonas had an Overweight rating and price target of $15.

Goldman Sachs analyst Mark Delaney had a Neutral rating and price target of $12.

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RBC on Ford: The electric vehicle segment of Ford is a drag for the company, Narayan said.

"Ford's above consensus 2024 guidance is likely to boost shares at the open, but assumes a reversal of losses at Model E, which only continued to worsen in Q4/23," Narayan said.

The analyst said Ford's Pro segment is a "standout" and one of the best businesses in the entire automotive sector.

"Longer term, Ford believes EVs will be profitable. Mgmt wants to focus more on smaller configurations which will require less capital."

Morgan Stanley on Ford: The Pro segment of Ford helped carry the quarter and could be offsetting losses for the company's electric vehicle strategy, Jonas said.

"Pro is Ford's ‘Ferrari' (or the closest thing to it) but that $8 to $9 billion of FY24 Pro guide is funding ~$5 billion of projected Model e (EV) losses," Jonas said.

Jonas estimates Ford will deliver 160,000 electric vehicle units in fiscal year 2024 with an average loss of $55,000 per electric vehicle.

The analyst said Ford could leverage its strong relationships with Chinese electric vehicle partners to "give them the best chance."

Goldman Sachs on Ford: The EBIT outlook from Ford was a key highlight from the fourth quarter earnings results for Delaney.

"We consider the report to be an incremental positive given the cost savings and the strength in Ford Pro, which are contributing to a stronger 2024 EBIT guide than we had expected," Delaney said.

The analyst said the strength of Ford Pro could be due to a Super Duty cycle that includes increased software and services penetration.

"We could be more constructive on the stock if we had more confidence in the sustainability of the earnings, which could come if Ford executes on the opportunity to get its EV business to profitability, grows its software and services business, and executes on the broader cost reduction plan including warranty and materials."

F Price Action: Ford shares are up 4.09% to $12.59 on Wednesday versus a 52-week trading range of $9.63 to $15.42. Shares of Ford are down 1% over the last year.

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