Nomura Securities Starts Ford (F) at Buy, $14 PT
- Wall St. stock futures fall after Italy referendum
- Oil tops $55 for first time in 16 months as OPEC deal fuels buying
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
- Burberry rejects multiple takeover offers from Coach: Financial Times
- Trump picks ex-rival Carson to head housing department
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium 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
- Credit Suisse Upgrades National Beverage (FIZZ) to Outperform
- Sonoco (SON) Affirms FY16 Outlook; Guides FY17 EPS Below Views
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
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!