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FORD
With $51 billion in market capitalisation, Ford is just out of the top 10 ranking of car companies by market capitalisation (a ranking led by Tesla with a large advantage).
The Stock currently trades at almost $13, but the company is showing positive signs according to many analysts. That’s why Morgan Stanley analyst Adam Jonas sees $17 as a reasonable target for Ford to reach.
The car company is expected to generate $22 billion in profit over 2024 and 2025, not much farther than General Motors’ expected $26 billion.
At the same time, its EV sales in the US in Q2 were second only to Tesla’s.
However, the most optimistic sign for growth is the expected expansion of the US market: Americans should increase their cars purchases in the next following years, with a peak in 2028, when the expectation is that 17-18 million cars will be sold.
STARBUCKS
So far in 2024, the Starbucks stock has been struggling. Shares are currently down by 17% from the beginning of the year.
On the other hand, the company keeps growing and attracting new customers and the multinational coffee chain keeps opening shops around the globe.
Of course, like most companies primarily offering consumer goods, Starbucks took a hit with inflation. Increasing wages and operational costs also played a role.
As a result, Starbucks shares currently trade at less than $75, while in 2021 it had peaked at $126.
Can it bounce back from its current price?
NIKE
Nike shares have been suffering too in 2024. The stock is down by 30% so far in 2024 and currently trades at $73, far away from the $122 of December last year.
Inflation has been an enemy to Nike products, but at the same time the footwear company is facing growing competition.
On the other hand, the Olympic games will start soon and are certain to give more visibility to its products.
Is Nike ready for a comeback?
Though it’s difficult to predict, Nike is a company with a long history, and it remains a dominating actor when it comes to sports. Despite growing competition in a complicated market, Nike has the means to reverse the trend.
That’s why most analysts at Nasdaq.com are positive and see the 12-month price target to be a little over $92, far higher than the current $73.
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