Ford Gears Up For A Smooth Ride: Analyst Raises Price Target On Strong Balance Sheet & Global Recovery - Ford Motor (NYSE:F)

Benchmark analyst Michael P. Ward reiterated a Buy rating on the shares of Ford Motor Company F, raising the price target to $20 per share from $19, reflecting higher assumptions.
The analyst believes new products have positioned the company to benefit from a global recovery in volume.
As of date, Ford's balance sheet is "stronger than ever," heading into an upturn, the analyst notes. The company ended the first quarter with $29 billion in cash.
On May 2, Ford reported first-quarter revenue of $41.5 billion, up 20% year-over-year. Ford's revenue and EPS came in ahead of analyst estimates.
Ford has reduced its breakeven level in North America by 50% since 2008, new products have positioned the company to benefit from a global recovery in volume.
The analyst increased 2023 estimate to $1.90 per share, up from $1.65. Estimates for 2024 are raised to $1.85 per share from $1.80.
The company expects EV capacity to reach 2 million units by 2026 and EBIT margin to reach 8%, suggesting revenue of $100 billion and income of $8 billion.
Price Action: F shares are trading higher by 0.13% at $11.81 on the last check Wednesday.