Goldman Sachs Adds Ford (F) to Conviction Buy List, Improvement Everywhere

January 11, 2013 7:06 AM EST Send to a Friend
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Price: $16.10 --0%

Rating Summary:
    9 Buy, 9 Hold, 1 Sell

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Goldman Sachs added Ford (NYSE: F) to its Conviction Buy List with a price target of $17.00 (from $15.00), suggesting 23% upside.

Ford now screens as having the highest 3-year EBITDA CAGR in our coverage (+17%), the firm said. They see this driven by operating improvements in all 4 regions:

"In North America we see growth driven by recent capacity additions and the opportunity from pickup demand, In Europe we see equally important tailwinds from the most aggressive restructuring plan among the OEMs, and in Asia and Latam we also see material profit accretion from increasing scale and new product. We think Ford's forward product cycle outlook is underrated. While we estimate GM will have a fresher portfolio in NA post the launch of the K2xx, we estimate Ford will continue to edge out GM in terms of vehicle age on a global basis."

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 $13.83 yesterday.




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