UPDATE: Goldman Sachs Raises PT to $15 on Ford Motor Company on Q3 Results
Goldman Sachs reiterated its Buy rating on Ford Motor Company (NYSE: F) and increased its price target from $14 to $15.
Goldman Sachs noted, "We like that Ford is taking a disciplined management approach that we expect to drive sustainable earnings growth. Tight inventory control and a willingness to resist aggressive incentives are driving strong price performance globally, and this was clearly visible in 3Q12 results. And the company is now implementing the most aggressive plan to deal with the European market of all the OEMs. … We think a nascent volume recovery in Brazil combined with new product (Ecosport, Ranger, Edge) should help profitability, even if production/trade issues between Brazil/Argentina/Mexico have not been resolved."
Ford Motor Company closed at $10.36 on Friday.
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