Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
Investors should sell Ford shares due to deteriorating industry trends and product-cycle concerns, according to Jefferies, which initiated an underperform rating on the automaker.
Ford reported disappointing second quarter earnings in July. The company's shares are down 7 percent in the past month and off 14 percent on the year as of Monday's close.
"Compared with the Q1 earnings call, management [on the second quarter call] came across almost surprised or unprepared for a more challenging environment, although the only major new development was the Brexit vote in the UK," analyst Philippe Houchois wrote in a note to clients Tuesday.
"From here, [Ford] product activity will be subdued for the coming 12-18 months by D-3 standards with management indicating that the cost base of the updated Super-Duty versions of the F family will translate into lower life-cycle margins versus its predecessor."