Cramer Sees Ford (F) At $17

CNBC Mad Money's Jim Cramer said in an interview with Erin Burnett that Ford (NYSE: F) is going up to $17. He thinks that Moody's upgrade of Ford (F) means that it will be able to borrow money at lower rate and increase its earning power. Cramer expects more upgrades for this company, which will definitely benefit the price of the stock. Cramer is also bullish on Ford's preferred shares.

Ford (F) reached 52-week high on Wednesday, trading at $14.15 at one point. It closed at $14.10 with an increase of 4.52%. The volume was pretty good too, 137.15M shares were traded.