Why Ford Shares Are Rising
Ford Motor Company (NYSE: F) shares are trading higher after Credit Suisse upgraded the stock from Neutral to Outperform and raised its price target from $15 to $20.
Credit Suisse analyst Dan Levy noted 'We believe a favorable cycle, alongside benefits from self-help actions (product, cost, international improvement), can keep Ford compelling from a near-term financial / cycle standpoint, while also importantly ensuring that Ford’s secular transition plans will be amply funded.'
Levy also noted 'We more importantly see opportunity in the ‘far,’ with potential to improve perception on Ford’s long-term positioning in EV and AV. Ford is accelerating its transition to EV, overcoming the narrative that legacy OEMs will be challenged in an EV world. It has shown a more holistic strategy and traction on product; the F-150 Lightning launch next spring could be a catalyst. On AV, amid greater willingness by the market to recognize the value of AV narratives, Ford’s stake in AV startup Argo could drive upside to Ford’s valuation.'
Ford Motor Company designs, manufactures, markets, and services a range of Ford trucks, cars, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles worldwide.
Ford's stock was trading about 3.9% higher at $16.02 per share at the time of publication. The stock has a 52-week high of $16.45 and a 52-week low of $7.61.
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