Ford Motor Company (F) announced on Wednesday that a new research center had been opened in Tel Aviv to support the companys automotive and mobility businesses. The center is to identify technologies and start-up firms in areas such as automated-systems research, sensors, in-vehicle monitoring, connectivity and cyber security.
Ford shares closed lower for the fourth time in the past ten trading sessions in New York on Wednesday. The stock went down 0.71% ($0.07) to $9.85, after touching an intraday low at $9.84 and an intraday high at $9.93.
Shares of Ford Motor Company have risen 28.76% so far in 2019 compared with a 14.88% gain for the benchmark index, S&P 500 (SPX).
In 2018, Ford Motor Co’s stock went down 38.75%, thus, it underperformed the S&P 500, which registered a 6.24% loss.
The new center is to work in close coordination with Fords SAIPS machine learning unit, which was bought by the US company almost three years ago. Ford also said that Udy Danino, the Chief Executive Officer of SAIPS, had been named as Israel technical director for the new research center.
Beside Ford, companies such as Samsung Electronics Co, Intel Corp, General Motors Co, Continental AG and Daimler AG also acquired startups or established development centers of their own in Israel.
The US auto maker operates research centers in Aachen, Germany; Nanjing, China; as well as in Dearborn, Michigan, US.
According to CNN Money, the 17 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $10.00, with a high estimate of $14.00 and a low estimate of $8.40. The median estimate represents a 1.52% upside compared to the closing price of $9.85 on June 12th.
The same media also reported that 11 out of 19 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 6 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:
Central Pivot Point – $9.72
R1 – $9.99
R2 – $10.21
R3 – $10.48
R4 – $10.74
S1 – $9.50
S2 – $9.23
S3 – $9.01
S4 – $8.78
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