Ford could sell down Rivian stake to fuel its business, RBC says

Analysts at RBC Capital on Monday raised their price target on Ford Motor Co. /zigman2/quotes/208911460/composite F -2.05% stock to $21, from $17, saying they continue to see upside for the auto maker. Their new valuation method includes further breaking up Ford's business, including its electric-vehicle business and investments in Rivian Automotive Inc. /zigman2/quotes/230726939/composite RIVN -2.35% , to value the shares, they said. On Rivian, the analysts said they believe Ford views its investment in Rivian "as a financial one, so they may eventually sell-down to help fund Ford's organic investment or other cash calls." Ford Chief Executive Jim Farley last month vowed that Ford would become the second largest U.S. electric-vehicle maker. Ford shares have rallied 120% this year, compared with gains of around 22% for the S&P 500 index. /zigman2/quotes/210599714/realtime SPX -1.65%

/zigman2/quotes/208911460/composite

Add to watchlist F

Ford Motor Co.

US : U.S.: NYSE

$ 11.48

-0.24 -2.05%

Volume: 69.58M

March 22, 2023 4:03p

P/E Ratio

N/A

Dividend Yield

5.23%

Market Cap

$46.72 billion

Rev. per Employee

$913,624

/zigman2/quotes/230726939/composite

Add to watchlist RIVN

Rivian Automotive Inc. Cl A

US : U.S.: Nasdaq

$ 13.29

-0.32 -2.35%

Volume: 23.23M

March 22, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$12.54 billion

Rev. per Employee

$117,405

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

3,936.97

-65.90 -1.65%

Volume: 0.00

March 22, 2023 5:05p