Ford gets buy rating thanks to strong Ford Pro division and attractive valuation.

Ford receives a buy rating due to the resilience and growth potential of its Ford Pro division, which offers stable margins. While Ford Blue remains the main profit source, it faces significant risks including macroeconomic, competitive, and structural challenges that cause volatile earnings. The Ford Model E segment currently shows negative earnings but is seen as strategically necessary with potential for future efficiency and scale improvements. Overall, Ford's valuation is attractive, supported by Ford Pro's value, with additional optionality from Ford Credit and new ventures like Ford Energy.