Ford, GM Downgraded. Here’s Where They Have Support

Ford  (F)  and General Motors  (GM)  are down hard on the day as analysts at UBS downgrade the stocks.

Ford stock is down almost 7% on Monday, while GM shares are down 5.25% on the day and were down as much as 7.5% at the session low. Both stocks are riding multi-day losing streaks and are down more than 10% from last week’s high.

UBS analyst Patrick Hummel downgraded Ford from a neutral rating to a sell rating and lowered his price target 23% down to $10.

He also cut General Motors from neutral to sell, but lowered his price target a whopping 32% down to $38 a share.

Source: https://www.thestreet.com/investing/ford-general-motors-gm-stock-downgraded-heres-where-they-have-support?puc=yahoo&cm_ven=YAHOO&yptr=yahoo