Goldman Sachs Upgraded Ford Motor (F) To Conviction Buy, Says Won't Need Bailout
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Goldman Sachs upgraded Ford Motor (NYSE: F) from Neutral to Buy and added the stock to their Conviction Buy List, saying the company won't need a government bailout and will benefit from likely bankruptcy filings of General Motors (NYSE: GM) and Chrysler llc.
The firm set the stage is set for a sea change in the U.S. auto industry.
The firm set a price target of $6 on Ford, which compares to yesterday's close of $3.80.
UPDATE: Shares of Ford have rallied more than 13% on the Goldman call. The stock most recently traded at $4.33.
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