Bernstein analysts revised their outlook on Ford (NYSE: F) shares, lowering the price target to $9.40 from the previous $10.70, while maintaining a Market Perform rating. The revision comes amid expectations of a challenging first half of 2025 for the automaker due to several headwinds.

Ford Motor Co. is eliminating stock award bonuses for some middle managers in an effort to boost performance as the automaker confronts declining profits and high costs.

Ford Motor Co. is eliminating stock award bonuses for about half of its middle managers in an effort to boost performance as the automaker confronts declining profits and high costs.

About half the middle managers at Ford Motor will not get stock bonuses this year in what is seen internally as CEO Jim Farley's latest attempt to cut the automaker's bloated costs, according to six people familiar with the matter.

Changes are being implemented to incentivize employees as Ford competes with other corporations for talent, the company said in a statement.

Ford is cutting stock bonuses to roughly half of its middle management. Senior managers will decide which half of their middle management staff gets bonuses. The move comes only a few months after other cost-cutting measures by Ford.