Over the last week, three brokerages, namely Citi, Jefferies, and DZ Bank, have upgraded Ford (F) stock to a “Buy” equivalent. Two of these upgrades came after the Blue Oval’s Q2 2026 earnings, while Jefferies raised it a day before the confessional. Notably, while Tesla (TSLA) has sagged this year and is down 29%, making the Elon Musk-run company the worst-performing constituent of the “Magnificent 7,” Detroit automakers have looked strong.
The divergence was on full display during the recently concluded Q2 earnings calls. While Ford and GM posted stellar beats on the bottom line and raised their annual adjusted earnings and free cash flow guidance, Tesla missed on adjusted profits. The company raised its artificial intelligence (AI) capital expenditures guidance—a figure that's making markets increasingly wary.
