Ford shares close lower on Monday, auto maker unveils Raptor variant of its Bronco SUV

Ford Motor Co (F) on Monday unveiled a new, high-priced Raptor variant of its Bronco Sport utility vehicle.

Due to Raptor’s enhanced off-roading capabilities and 3.0 liter twin turbo Eco boost engine, Ford will be able to directly compete with Jeep’s Wrangler Rubicon, the auto maker said.

The Bronco Raptor is equipped with 37-inch all-terrain tires, an enhanced suspension system, wide stance, LED marker lights hidden in the grille as well as Rigid LED fog and driving lights integrated into the front bumper.

The Bronco Raptor is expected to hit the roads during the summer, while client orders can be placed as early as March, the US company said.

Ford Motor shares closed lower for a fifth consecutive trading session in New York on Monday. The stock went down 1.26% ($0.26) to $20.39, after touching an intraday low at $18.80. The latter has been a price level not seen since December 6th 2021 ($18.61).

Shares of Ford Motor Company have retreated 1.83% so far in 2022 compared with a 7.47% loss for the benchmark index, S&P 500 (SPX).

In 2021, Ford Motor Co’s stock went up 136.29%, thus, it again outperformed the S&P 500, which registered a 26.89% gain.

Analyst stock price forecast and recommendation

According to TipRanks, at least 8 out of 18 surveyed investment analysts had rated Ford Motor Company’s stock as “Buy”, while 7 – as “Hold”. The median price target on the stock stands at $22.94.