7 Bounce Back Stocks to Add to Your Watch List - 5 of 7

#5 - Ford Motor (NYSE:F)

Ford Motor Company (NYSE: F) is up 22% in 2023, which makes it an odd candidate as a bounce-back stock. However, if you look at F stock through a wider lens, you know that the stock is down nearly 50% from its January 2022 highs. At that time, the stock was trading for over $25 per share, a level the stock hadn’t seen for nearly 20 years.  

In 2021, Ford was a beneficiary of the EV bubble. The automaker has been a long-time advocate for electrification and has recently doubled down on its commitment to producing an all-electric fleet of vehicles. 

One of the centerpieces of the company’s near-term strategy is its F-150 Lightning EV truck. Ford stock is down nearly 5% on the announcement it was cutting the price of the truck between $6,000 and $9,900 depending on the model purchased. 

But this could be an example of when selling the news creates an opportunity. The company is cutting the price of the EV based on lower production costs, not a lack of demand. This doesn’t remove all the obstacles that are in the way of mass adoption for EVs, but it’s a step in the right direction.  

In theory, any production savings should go to the bottom line. Investors will know more when the company posts earnings in late July. In the meantime, at approximately 8x forward earnings, F stock looks like a good bounce-back stock in the beaten-down EV sector.  

About Ford Motor

Current Price

$9.88

Consensus Rating

Reduce

Ratings Breakdown

3 Buy Ratings, 7 Hold Ratings, 4 Sell Ratings.

Consensus Price Target

$11.83 (19.8% Upside)