Goldman Sees 39% YoY Rise in Ford's (F) Sept. Auto Sales; Expects Total US Light Vehicle Sales at 11.7M Units
Tweet
Share
E-mail
Get Alerts F Hot Sheet
Price: $14.41 +3.00%
Rating Summary:
12 Buy, 23 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 23 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Analysts at Goldman Sachs are forecasting US light vehicle sales of 11.7 million units (on a seasonally adjusted annual rate) for September, a 28% rise over the 9.4 million units reported during the same month last year. The firm sees total car sales at 5.8 million units and total light truck sales very modestly higher at 5.9 million units.
Although Goldman notes that year-over-year comparisons are "less meaningful" due to last year's "Cash for Clunkers" program, the firm sees a rather momentous trend continuing. Goldman believes that this month's sales got off to a relatively strong start following a prolonged Labor Day weekend.
Goldman sees Ford (NYSE: F) reporting a 39% year-over-year increase in units during September, up to 152,100 vehicles. Based on this level of auto sales, Ford's market share would be around 15.9%, up modestly from the 15.8% reported last month and up from the 14.7% reported during the same period last year. Goldman believes Ford "continues to benefit from improving US truck sales and the continued strength of its product cycle." Additionally, Goldman warned that Ford sales could "see some headwind from Toyota regaining some of its lost ground from recall issues in the first half."
Goldman Sachs maintains a Buy rating and $16 price target on Ford shares.
About a half-hour into this morning's trading session, shares of Ford are down about 0.2% to $12.53. Goldman's price target suggests potential upside of more than 28% from where the stock is trading this morning.
Although Goldman notes that year-over-year comparisons are "less meaningful" due to last year's "Cash for Clunkers" program, the firm sees a rather momentous trend continuing. Goldman believes that this month's sales got off to a relatively strong start following a prolonged Labor Day weekend.
Goldman sees Ford (NYSE: F) reporting a 39% year-over-year increase in units during September, up to 152,100 vehicles. Based on this level of auto sales, Ford's market share would be around 15.9%, up modestly from the 15.8% reported last month and up from the 14.7% reported during the same period last year. Goldman believes Ford "continues to benefit from improving US truck sales and the continued strength of its product cycle." Additionally, Goldman warned that Ford sales could "see some headwind from Toyota regaining some of its lost ground from recall issues in the first half."
Goldman Sachs maintains a Buy rating and $16 price target on Ford shares.
About a half-hour into this morning's trading session, shares of Ford are down about 0.2% to $12.53. Goldman's price target suggests potential upside of more than 28% from where the stock is trading this morning.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SEC accuses ex-BofA senior banker Satsky of insider trading - Bloomberg
- Toyota Motor (7203:JP) (TM) PT Raised to JPY3,700 at CLSA
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Analyst Comments, Retail Sales, Trader TalkSign 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!
