Ford Motor Company (NYSE:F) has turned the ignition on its mass market autonomous vehicle designed for ride-hailing or ride-sharing, with expected delivery due by 2021. UBS analyst Colin Langan highlights a significant shift away from Ford’s prior anticipation for consequential changes forthcoming, but had no real expectations in the short-term until now.

Though the automaker has been vocal that the economics of autonomous simply do not lend themselves to personal use, the tail side lies with the compelling use of ride-hailing and ride-sharing, which then cut the cost of the driver. Langan finds that this news for Ford differs from that of its competitors in the autonomous sector, as this delivery commits to high volume production by 2021. From the analyst’s perspective, this renders Ford as outclassing many of its peers for the time being.

In light of decisive moves Ford has now set into motion with hopes to become a true leader in autonomous vehicles, Langan reiterates a Buy rating on F with a $16 price target, which represents a 30% increase from where the shares last closed.

Langan believes, “We expect these applications to be for more niche applications (range bound, low speed); this would be consistent with our meetings with nuTonomy’s CTO (see AV expert). Ford has largely been viewed as an industry laggard around future mobility. Today’s announcement highlights the internal investment Ford has been making. Therefore, we view Ford’s more aggressive tone toward future technology positively and are surprised by the limited stock reaction.”

According to TipRanks, analyst Colin Langan is ranked #271 out of 4,124 analysts. Langan has a 64% success rate and earns 10.8% in his yearly returns. When recommending F, Langan realizes 8.9% in average profits on the stock.

TipRanks analytics exhibit F as a Buy. Based on 11 analysts polled in the last 3 months, 5 rate a Buy on F, 4 maintain a Hold, while 2 issue a Sell. The 12-month average price target stands at $17.13, marking a 39% upside from where the stock is currently trading.

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