Analysts Have Discovered Lost Love for Ford, But Don’t Rush to Buy F Stock for 2027

Over the last week, three brokerages, namely Citi, Jefferies, and DZ Bank, have upgraded Ford (F) stock to a "Buy" equivalent. Two of these upgrades came after the Blue Oval's Q2 2026 earnings, while Jefferies raised it a day before the confessional. Notably, while Tesla (TSLA) has sagged this year and is down 29%, making the Elon Musk-run company the worst-performing constituent of the "Magnificent 7," Detroit automakers have looked strong.

The divergence was on full display during the recently concluded Q2 earnings calls. While Ford and GM posted stellar beats on the bottom line and raised their annual adjusted earnings and free cash flow guidance, Tesla missed on adjusted profits. The company raised its artificial intelligence (AI) capital expenditures guidance—a figure that's making markets increasingly wary.

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Meanwhile, despite the post-earnings rally, F stock is trading 19% below its 2026 highs. In my previous article, I noted that while Ford was a buy after the 20% drop in a month, it was unlikely that the stock would revisit its 2026 highs this year. Now, let's revisit the stock's forecast after an impressive Q2 performance.

Ford's Q2 revenues fell 3.8% year-over-year (YoY) to $48.3 billion, which fell short of the $49.6 billion that analysts were modeling. The company attributed the fall in revenues to the discontinuation of some models and the impact of the Novelis fire, which took a toll on its production. The company's adjusted earnings per share (EPS), however, rose 13.5% to 42 cents, ahead of the 35 cents expected by analysts. It also raised its 2026 adjusted earnings and free cash flow guidance by $1 billion at the midpoint.

During the Q2 earnings call, Ford understandably did not provide earnings guidance for 2027 as it was "a little bit early to talk about it in detail." However, the company did provide a lot of color on what investors can expect.