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FORD MOTOR COMPANY

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Lyft Shares Up 5% After Agreement With Argo AI and Ford

07/21/2021 | 02:53pm EDT

By Michael Dabaie

Lyft Inc. shares were up 5% to $55.80 in afternoon trading after unveiling a collaboration for Argo AI and Ford Motor Co. to launch self-driving vehicles on Lyft's network by the end of 2021.

Autonomous vehicle technology platform company Argo AI and Ford plan to deploy Ford self-driving cars, with safety drivers, on the Lyft network, with passenger rides beginning in Miami later this year and in Austin starting in 2022.

Lyft will receive 2.5% of the common equity of Argo AI as part of the licensing and data access agreements.

The companies said the initial phase will lay the groundwork for scaling operations, and they aim to deploy at least 1,000 autonomous vehicles on the Lyft network across multiple markets over the next five years.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

07-21-21 1452ET

Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY 0.51% 13.78 Delayed Quote.56.77%
LYFT, INC. 0.40% 55.86 Delayed Quote.13.70%
VOLKSWAGEN AG 0.04% 189.38 Delayed Quote.24.25%
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Analyst Recommendations on FORD MOTOR COMPANY
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Financials (USD)
Sales 2021 128 B - -
Net income 2021 5 010 M - -
Net cash 2021 5 498 M - -
P/E ratio 2021 10,8x
Yield 2021 0,25%
Capitalization 55 048 M 55 048 M -
EV / Sales 2021 0,39x
EV / Sales 2022 0,28x
Nbr of Employees 186 000
Free-Float 98,0%
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Technical analysis trends FORD MOTOR COMPANY
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 13,78 $
Average target price 16,08 $
Spread / Average Target 16,7%
EPS Revisions
Managers and Directors
James D. Farley President, Chief Executive Officer & Director
John T. Lawler Chief Financial Officer & Vice President
William Clay Ford Executive Chairman
Douglas Field Chief Advanced Technology Officer
Michael R. Amend Chief Digital & Information Officer
Sector and Competitors
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