Ford Motor Company (F) Maintains Buy Rating
February 05, 2010 1:22 PM
Research firm Argus has maintained a Buy rating for Ford Motor Company (NYSE: F) after the company posted a profit for its second consecutive quarter. The company reported fourth-quarter results ahead of Argus’s and consensus forecast.
Ford reported EPS of $0.43 in the fourth-quarter. According to Argus, the fourth-quarter profit was driven by rising sales, lower costs, and firmer pricing, renewed strength in the credit business, and the weakness of other auto companies.
The company also gained market share in the quarter. Argus expects this trend to continue going forward.
The research firm has raised EPS estimate from $0.69 to $0.97 for 2010, and initiate EPS of $1.45 for 2011. Argus has maintained a Buy rating for Ford Motor Company, with a price target of $15.
