Ford falls after Goldman downgrade on tariff and demand concerns

Automaker Ford's F.N shares down 3.3% to $9.19 premarket

Brokerage Goldman Sachs downgrades stock to "neutral" from "buy"

Brokerage sees downside for Ford due to increased international competition, weaker consumer demand, and expected higher tariff costs, prompting a rating downgrade, despite a favorable long-term outlook

Goldman notes Wall Street estimates for the company's expected earnings for 2025 have been revised downward by 32% after it upgraded the stock to "buy" in September 2024

In the same period, the stock has been down 10% vs 15% on average for other auto OEM/supplier stocks - Goldman

Brokerage says it might become positive on the stock if there are improvements in the company's cyclical outlook or a significant increase in software and services profits

3 of 26 brokerages rate the stock "buy" or higher, 17 "hold", 6 "sell" or higher; median PT $9.95 - LSEG

As of last close, company's shares down 2.5% YTD