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Bank of America Bullish on Ford, GM, and Tesla Amid EV Market Shift

Bank of America Bullish on Ford, GM, and Tesla Amid EV Market Shift

Author:

Global Cryptocurrency

Published:

2026-03-06 14:25:02

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BTCCSquare news:

Bank of America reinstated coverage of the North American auto sector with a bullish outlook, naming Ford, General Motors, and Tesla as top picks for 2026. Analyst Alexander Perry cited regulatory shifts and a renewed focus on gasoline-powered vehicles as catalysts for potential outperformance.

Ford received a $17 price target, implying 34% upside, as the firm anticipates gains from its dominant truck and SUV lineup. General Motors was similarly upgraded, with BofA highlighting both automakers' ability to capitalize on slowing EV adoption and higher-margin combustion engine vehicles.

Tesla's $460 target reflects Bank of America's conviction in its robotaxi expansion, which now accounts for over half its valuation. The report notes fading EV incentives could drive sales declines exceeding 20% in 2026, creating tailwinds for traditional automakers.

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