$Ford Motor(F.US)$ shares are trading higher after Credit Suisse upgraded the stock from Neutral to Outperform and raised its price target from $15 to $20.
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.
- Credit Suisse analyst Dan Levy 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.'
- Levy also noted
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.
