Deutsche Bank Remains Cautious on Ford (F)

March 28, 2013 9:29 AM EDT
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Price: $12.61 +2.44%

Rating Summary:
    8 Buy, 14 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Yesterday Ford (NYSE: F) made a presentation at the Auto Show Conference in New Yord. Ford maintained guidance but the company said South American Q1 losses could approach $300 million, although it still expects to be break-even for the year.

Commenting on the news, Deutsche Bank analyst Gaetan Toulemonde said, "We believe that the variance vs. DBe is primarily attributable to a $200MM adverse balance sheet translation effect (related to devaluation of the Venezuelan Bolivar), which should not recur in subsequent quarters."

Overall Toulemonde is neutral on Ford's shares.

"Despite upside to our TP, as we believe that Street expectations may still be overly optimistic. While we see potential for earnings growth in NA, we remain cautious on the intermediate term prospects for Ford's European and SA regions," concluded the analyst.

Deutsche Bank has a Hold rating on Ford with a price target of $15.00

For an analyst ratings summary and ratings history on Ford (NYSE: F) click here. For more ratings news on Ford click here.

Shares of Ford closed at $13.22 yesterday.

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