Ford could sell down Rivian stake to fuel its business, RBC says

Analysts astatine RBC Capital connected Monday raised their terms people connected Ford Motor Co. F, +0.13% banal to $21, from $17, saying they proceed to spot upside for the car maker. Their caller valuation method includes further breaking up Ford's business, including its electric-vehicle concern and investments successful Rivian Automotive Inc. RIVN, +4.60%, to worth the shares, they said. On Rivian, the analysts said they judge Ford views its concern successful Rivian "as a fiscal one, truthful they whitethorn yet sell-down to assistance money Ford's integrated concern oregon different currency calls." Ford Chief Executive Jim Farley past period vowed that Ford would become the 2nd largest U.S. electric-vehicle maker. Ford shares person rallied 120% this year, compared with gains of astir 22% for the S&P 500 index. SPX, +0.84%