UPDATE: Deutsche Bank Upgrades Ford, Sees 'Significant Pricing Opportunity'
In a report published Friday, Deutsche Bank Markets Research analyst Rod Lache upgraded Ford Motor (NYSE: F) from Hold to Buy and raised the price target from $18.50 to $19.00.
Lache noted the “significant pricing opportunity” from Ford's pickup truck price premium versus General Motors. The analyst commented that Ford's pickup price premium has reached its lowest level in years. In addition, the new F150 is expected to be “significantly more cost competitive,” with an additional $750-$800 cost for the aluminum body.
The analyst wrote, “This conclusion, combined with our favorable views of Ford's prospects in Europe and China, leave us increasingly confident that Ford is heading for a significant earnings inflection in 2015-2016.”
Shares of Ford closed at $15.63 on Thursday. The stock jumped to $15.88 before 10:00 a.m. EST, up 1.599 percent.
Latest Ratings for F
|Sep 2014||Deutsche Bank||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.