UPDATE: JPMorgan Starts Ford (F) at Overweight, Sees 38% Upside

July 18, 2012 7:37 AM EDT
Get Alerts F Hot Sheet
Price: $12.36 -0.56%

Rating Summary:
    8 Buy, 14 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - July 18, 2012 10:57 AM EDT)

Shares of Ford (NYSE: F) are 1 percent higher after picking up a new bull. JPMorgan initiated coverage on Ford (NYSE: F) with a Overweight rating and $13 price target.

In its report, the firm cited top flight management and strategy, highly profitable North American operations, and optionality provided by a belated yet aggressive push in China.

"The firm's highly successful "One Ford" strategy has seen it pare brands, simplify operations, and work more effectively across regions to develop a smaller number of world class products, such as the new Ford Fusion," analyst Ryan Brinkman states. "The result is greater profitability and a stronger balance sheet, with more resources to reinvest into still better product and growth. Ford's aggressively restructured NA operations are highly profitable at current levels of demand, suggesting potential upside to long-run margin targets. The firm is putting excess NA profits into a belated but aggressive push in China."

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 $9.34 yesterday.

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