Ford Motor Company (F) said on Thursday that it would begin taking reservations for its electric Sport-utility vehicle, Mustang Mach-E, on November 17th, when the SUV will be presented at an event in Los Angeles.
Ford shares closed lower for a third consecutive trading session in New York on Thursday. The stock went down 0.23% ($0.02) to $8.79, after touching an intraday low at $8.78, or a price level not seen since November 1st ($8.64).
Shares of Ford Motor Company have risen 14.90% so far in 2019 compared with a 23.53% gain for the benchmark index, S&P 500 (SPX).
In 2018, Ford Motor Co’s stock went down 38.75%, thus, it again underperformed the S&P 500, which registered a 6.24% loss.
Clients can make a reservation for the Mustang Mach-E on Ford’s website in Canada, Europe and the United States by putting down a refundable deposit of $500.
The electric SUV will be one of over a dozen all-electric vehicles, which Ford intends to launch by the year 2022 by investing as much as $11.5 billion.
Analyst stock price forecast and recommendation
According to CNN Money, the 15 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $10.00, with a high estimate of $13.00 and a low estimate of $8.00. The median estimate represents a 13.77% upside compared to the closing price of $8.79 on November 14th.
The same media also reported that at least 9 out of 16 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 5 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.