Goldman Sachs Removes Ford (F) from Conviction Buy List

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August 3, 2011 7:09 AM EDT
Get Alerts F Hot Sheet
Price: $13.99 -3.52%

Rating Summary:
    12 Buy, 23 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 15 | New: 40
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Goldman Sachs removed Ford (NYSE: F) from its Conviction Buy List, but maintained a Buy rating on the stock. They also lowered their price target from $20 to $17.

The firm said, "increased trepidation about the pace of US growth and possible downward estimate revisions to SAAR will cloud the path to outperformance in the near to mid-term."

Goldman still see value in Ford share driven by yoy margin reacceleration in 2H11, high probability of a debt upgrade, and attractive valuation.

The firm sees Ford positioned to pay a dividend in 2012.

For more ratings news on Ford click here and for the rating history of Ford click here.

Shares of Ford closed at $11.85 yesterday.

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