Nomura Securities Starts Ford (F) at Buy, $14 PT
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Nomura Securities initiates coverage on Ford (NYSE: F) with a Buy rating and a price target of $14.00.
Analyst Anindya Das commented, "Ford will retain its commanding share of the highly profitable US pickup truck segment, we believe, as it benefits, albeit slowly, from the recovering housing market. The company is poised to remain competitive in the fast growing and popular crossover segment on the strength of its highly recognized Explorer, Edge, and Escape models. The company’s automotive finance business should continue to contribute a significant and steady source of group profits, leveraging Ford’s US presence and we expect Ford’s cumulative earnings in automotive markets outside North America to steadily improve. Finally, Ford stock offers a very attractive dividend yield, with a steady cash flow from the company’s North American operations and a healthy automotive net cash position, helping to support future payouts. We expect Ford to pay out $0.75 per share in FY2017 (including supplemental dividends), yielding 6.2%, the highest among its peers."
Shares of Ford closed at $12.11 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- Broadcom (AVGO) PT Raised to $215 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesNomura, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!