Goldman Sachs Upgraded Ford Motor (F) To Conviction Buy, Says Won't Need Bailout
- Stocks Tank as QE Nears End, Major Fund Winds Down, and Ebola Fears
- Market Wrap: Private Employment Expands in Sept.; BofA CEO Becomes Chairman; U.S. Secret Service Director Resigns
- Bank of America (BAC) CEO Moynihan Elected as Chairman
- After-Hours Stock Movers 10/01: (RLD) (DRL) (DTV) Higher; (WILN) (NLNK) (PLTA) Lower (more...)
- Investors Yank $23.5 Billion From PIMCO in 3 Days Amid Gross Exit
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.
Get Real-Time Market Moving News Two-Week FREE http://www.streetinsider.com/premium_content.php
You May Also Be Interested In
- David Tepper Talks Bonds, Stocks, Fannie/Freddie, Bill Gross and More
- UPDATE: HTC Looks to Take Bite Out of GoPro (GPRO); New Device Set to Debut in October
- eBay (EBAY) Price Target Raised at Goldman Sachs on Increased M&A Post-Spin
Create E-mail Alert Related CategoriesInsiders' Blog, Trader Talk, Upgrades
Related EntitiesGoldman Sachs Conviction Buy List, Chrysler LLC, Goldman Sachs, Bankruptcy
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!