Ford (F) shares fell Tuesday, as analysts at JPMorgan and Bank of America cut their price targets after the automaker’s disappointing performance. third quarter results.

Ford shares fell more than 8% Tuesday morning. The company reported Monday that its third-quarter profit fell short of analysts’ expectations and lowered its full-year outlook, projecting full-year adjusted profit of around 10 billion dollars, compared to a previous estimate of $10 billion to $12 billion.

JPMorgan analysts cut their price target from $15 to $14, citing the company’s “persistently high warranty expenses.” by giving him a overweight rating.

Bank of America lowered its price target from $20 to $19, noting lighter-than-expected revenue from Ford Blue, the company’s gasoline and hybrid passenger car division, but maintained a buy call on the company.

Ford Pro division, a reason for optimism, notes BofA

BofA cited Ford’s “positive picture” regarding its recent operations, noting that the automaker’s management cited strength in its core truck market, and particularly its Pro division, which serves commercial customers.

The Ford Pro division’s third-quarter revenue rose 13% year over year and above Wall Street estimates, while subscriptions to Ford Pro Intelligence’s paid software jumped 30%.

BofA said it maintained its purchase decision due to Ford’s “strong near-term product cadence combined with management’s focus.”

(We) expect better profits and progress from 2025,” BofA said.

JPMorgan, meanwhile, said it maintains its overweight on Ford because of the “deep value” its shares provide. The broker noted that Tesla (TSLA), although one of the few profitable battery electric vehicle (EV) makers, was expected to generate a much lower level of free cash flow than Ford this year.

Ford shares were down 8% on Tuesday.