As the sun set on another trading day, Ford (NYSE:F) found itself in the dark, losing over 1.5% in Friday afternoon’s trading. The company’s struggles were epitomized by two stark revelations: its green initiatives are not entirely defunct, and the once-popular Transit Connect has disappeared from U.S. inventory, casting shadows on its share price.
The Transit Connect, a line of small vans, bid farewell to the North American market in March 2023. With production halted after the year ended, the last of its kind has now vanished from U.S. shelves, leaving Ford without a successor amidst declining sales. Enthusiasts searching for this model must now look across the Atlantic to Europe, where a revamped version has surfaced.
While the company’s green ambitions may have been pruned back, an uncovered patent application unveils a glimmer of hope. Filed in August, the patent outlines a groundbreaking endeavor to transform roads into charging stations by integrating wireless inductive charging coils on the road surface. This ingenious innovation aims to provide continuous power supply to electric vehicles as they drive, overcoming one of the most significant challenges in e-mobility. However, hurdles like power transfer efficiency linger, prompting Ford’s patent to tackle these obstacles head-on.
Revolutionizing the Road
Delving into Wall Street’s sentiment, analysts offer a Moderate Buy consensus on F stock, comprising five Buys, eight Holds, and one Sell recorded in the last three months. Despite a 5.33% decline in share value over the past year, the average price target for F stands at $14 per share, signaling a promising 32.51% upside potential for investors.
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Disclaimer: All information presented is for informative purposes only and does not constitute financial advice.
