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JPMorgan raised the firm's price target on Ford (F) to $12 from $11 and keeps an Overweight rating on the shares. The firm updated its analysis of the impact of Section 232 automotive sectoral tariffs by reducing the estimated tariff bill for General Motors (GM) by 22% and for Ford by 58% after President Trump signed an executive order "that significantly ameliorates" the treatment of auto parts imports.

Catch up on the weekend's top five stories with this list compiled by The Fly: 1) Boeing (BA) has begun flying the 737 Max jets that were refused by Chinese airline customers back to the U.S., Julie Johnsson, Siddharth Vikram Philip, and Danny Lee of Bloomberg reports. The jet was intended for Xiamen Air and flew from Zhoushan to Guam. There are at least two other planes in Zhoushan awaiting delivery. 2) Tesla's (TSLA) production launch for an affordable car has been delayed, Abhirup Roy, Aditi Shah, and Hyunjoo Jin of Reuters reports, citing three sources with knowledge of the matter. Global production of the lower-cost Model Y is expected to begin in the U.S., the sources said. Production is expected to occur at least a few months later than originally outlined in Tesla's public plan, with a range of revised targets from Q3 to early next year, the sources added. 3) Citing interviews with current and former company leaders, investors, customers and dealers, as well as public filings, the Wall Street Journal details how a dispute over the next CEO of Harley-Davidson (HOG), remote work and DEI led to a director's resignation and his public battle to oust other board members. 4) Ford (F) has stopped shipping pickup trucks, SUVs and sports cars to China to avoid increased tariffs, Mike Colias of Wall Street Journal reports, citing people familiar with the matter. Ford halted shipments this week of F-150 Raptors, Mustang muscle cars and Bronco SUVs built in Michigan, as well as Lincoln Navigators made in Kentucky, sources told the Journal. 5) More than 50 years ago, PepsiCo (PEP) began making concentrate in Ireland because of the country's low corporate tax rate, but that strategy is now backfiring as the concentrate for nearly all U.S. sales of Pepsi and Mountain Dew is subject to a 10% tariff, Laura Cooper of Wall Street Journal reports. While Coca-Cola (KO) for decades has also produced concentrate in Ireland, the company makes most of the concentrate for its American sodas in Atlanta and Puerto Rico, a U.S. territory, the Journal points out.

Barclays lowered the firm's price target on Ford to $8 from $10 and keeps an Equal Weight rating on the shares. The firm reduced estimates in the autos and mobility group to reflect the earnings impacts from tariffs. Barclays also downgrade its industry view on the sector to Negative. A "highly challenging environment" makes a near-term investment case for the autos sector is "increasingly difficult," the analyst tells investors in a research note. The firm sees multiple near-term pressures, including earnings pressure, risks to consumer health, and a cloud over auto tech investment. "Auto tariffs are seemingly here to stay, and valuations are seemingly not pricing in full tariff risk," contends Barclays.

Goldman Sachs downgraded Ford to Neutral from Buy with a price target of $9, down from $11. The firm sees a more difficult cyclical dynamic for the company, including competition internationally, weaker consumer demand, and what it expects will be higher costs from tariffs. In addition, Ford has recently outperformed peers and now trades at an expanded relative valuation multiple versus peers, the analyst tells investors in a research note.

UBS analyst Joseph Spak lowered the firm's price target on Ford to $9 from $10 and keeps a Neutral rating on the shares. New trade policies are raising the cost to make a vehicle, leading to increased consumer prices and negatively impacting demand, while production disruptions are likely, financially challenging suppliers, the analyst tells investors in a research note. Supply chains that were set up to be optimized over decades may need to be reimagined, potentially creating calls on capital not anticipated prior, the firm says, adding that Autos is not a sector that deals well with uncertainty given long planning cycles.

Bernstein downgraded Ford to Underperform from Market Perform.