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Ford Motor Co. is unlikely to be engulfed by a "Dieselgate 2.0," UBS analysts said in a note on Friday.
Ford
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On Thursday, an investigation into its fuel consumption and emissions certification procedures and some of the variables it applies to its tests was unveiled.
Ford shares fell 1% Friday at the noon trading session.
Ford said the potential problems did not involve "invalidation devices", which were at the heart of Volkswagen AG's strategy.
WISH, + 0.53%
emissions scandal. Ford also said it has voluntarily reported the case to the Environmental Protection Agency and California's air cleansing authorities.
See also: Ford keeps its expectations secret for the year
"We believe that the absence of a" defeat device "and the proactive self-declaration decision could reduce the risk of regulatory fines if a problem were ultimately solved." , said UBS analysts in the note.
UBS maintained its purchase price on Ford equities and a price target of $ 10, which represents a 16% increase over Friday prices.
The analyst added that, according to his investigation, his internal investigation had not revealed any effect on Ford's fuel economy labels or emission certifications, nor any manipulation or violation of Ford's rights. the man.
Ford has been criticized for its perceived lack of transparency in its restructuring efforts. Bob Shanks, a long-time CFO, is also preparing to retire.
Related: The Ford CFO's retirement would create more uncertainty in difficult times: analysts
Earlier this week, the automaker announced that it was pulling out of the heavy truck market in South America and that it was abandoning the compact Ford Fiesta in the region, with an impact of $ 460 million. In January, he unveiled major changes in Europe.
Analysts at Deutsche Bank have announced in a note this week that they expect "several more announcements to be announced this year, including cuts in US management, an update major on the restructuring of Europe and additional actions in South America "for Ford.
Investors "underestimate the potential benefits of the US truck lineup, globally deep restructuring actions and realized savings" with Volkswagen, Deutsche analysts said, retaining their purchase rating and their course goal at $ 12.
Ford stocks have fallen nearly 20% in the last 12 months, in contrast to gains of around 3% for the S & P 500.
SPX, + 0.64%
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