3 Auto Stocks Going Places: Tesla Shares Recover on Bullish Note, Ford Gets Sued, and Honda’s Hydrogen Game Plan
Tesla Motors (NASDAQ:TSLA): Tesla shares have been oscillating over the past couple of days, as analysts play tennis with their recommendations for the stock. Dougherty has followed up Northland’s Street-high $230 price target with a $200 bid after a resounding note from Goldman Sachs sent the shares plunging almost 15 percent on Tuesday. Dougherty contends that Tesla ”is a $300 stock at the factory’s maximum capacity,” but after factoring in the execution risks, analyst Andrea James pegs the price target for $200.
Ford Motor Co. (NYSE:F): Ford is finding itself at the wrong end of a class-action lawsuit, with its troubled MyFord Touch infotainment system at the core. The system has numerous issues as reported by customers, including shutting down without warning and failing to make the job of the driver easier, which was really its principal purpose. The suit is being filed by Hagens Berman Sobol Shapiro LLP, which contends that Ford was fully aware of the issues.
Honda Motor Co. (NYSE:HMC): It’s no secret that Honda wants to become a serious contender in the hydrogen fuel-cell game, but the project now has a date: Honda wants a viable entry in the market by 2020, and will likely be using its newly formed alliance with General Motors (NYSE:GM) to initiate it. Interested parties can likely expect the fuel-cell vehicle to fall between $30,000 and $40,000 upon its release.