Ford (F), GM (GM) Price Targets Raised at Jefferies

Jefferies analyst Peter Nesvold boosted his price target on Buy-rated Ford (NYSE: F) $16 to $18 and Hold-rated GM (NYSE: GM) from $31 to $36 Tuesday following May 2013 SAAR of 15.2 million, with strong double-digit increases in pickup truck sales powering YoY gains.

"And we're not even in the seasonally stronger 2H for pickups yet," the analyst exclaims.

Q2 EPS estimate on Ford were adjusted up slightly from $1.41 to $1.42 and FY 2013 EPS estimate from $1.70 to $1.75.

Q2 EPS estimate on GM were adjusted down slightly from $0.80 to $0.77 and FY 2013 EPS from $3.36 to $3.33.

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 $15.89 yesterday.

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