Barclays Defends Ford (F): Despite Europe and Lack of N-T Catalyst, Shares Are Cheap!
Tweet Send to a FriendGet Alerts F Hot Sheet
Price: $15.32 -2.11%
Rating Summary:
9 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
9 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade F Now!
Barclays reiterates an 'Overweight' on Ford (NYSE: F) price target of $13.00 (from $15.00).
Analyst, Brian A. Johnson, said, "Expectations have been reset, but stock may lack a catalyst in the near term. Despite a modest 2Q beat to consensus (30c vs. consensus of 28c) and a strong NA result (EBIT margin of 10.2%), the focus for Ford remains on Europe. While the stock is trading a multi-year low and is currently cheap relative to historical levels (~7.2x our '12 EPS estimate), we are increasingly convinced that the shares lack any catalyst until later in the year when Ford might present a restructuring plan for Europe."
FY12 EPS estimate lowered from $1.50 to $1.24 and FY13 from $1.79 to $1.53.
For an analyst ratings summary and ratings history on Ford click here. For more ratings news on Ford click here.
Shares of Ford closed at $8.97 yesterday, with a 52 week range of $8.91-$13.44.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Brian A. Johnson, said, "Expectations have been reset, but stock may lack a catalyst in the near term. Despite a modest 2Q beat to consensus (30c vs. consensus of 28c) and a strong NA result (EBIT margin of 10.2%), the focus for Ford remains on Europe. While the stock is trading a multi-year low and is currently cheap relative to historical levels (~7.2x our '12 EPS estimate), we are increasingly convinced that the shares lack any catalyst until later in the year when Ford might present a restructuring plan for Europe."
FY12 EPS estimate lowered from $1.50 to $1.24 and FY13 from $1.79 to $1.53.
For an analyst ratings summary and ratings history on Ford click here. For more ratings news on Ford click here.
Shares of Ford closed at $8.97 yesterday, with a 52 week range of $8.91-$13.44.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BofA/Merrill Lynch Upgrades Adobe (ADBE) to Buy
- UPDATE: Raymond James Downgrades Gevo, Inc. (GEVO) to Market Perform
- KeyBanc Boosts La-Z-Boy (LZB) Price Target
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Barclays
Login with Facebook
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!
