Deutsche Bank Still Bullish On Ford (F) After Q3

Deutsche Bank reiterated their Buy rating and $15 price target on Ford (NYSE: F) amid weakness yesterday after Q3 results.

The firm said the results were actually "quite impressive."

The firm comments, "Excluding a non-cash marking to market of a commodity hedges, North American Pretax Earnings would have been $1.85 bn vs. our $1.64 bn and consensus of $1.45 bn. Excluding this charge, Global Automotive Pretax Earnings would have been $1.69 bn vs. our $1.59 bn estimate. Free cash flow in the quarter was quite strong… $0.9 bn vs. our $0.3 bn estimate. And YTD Ford has generated $7.6 bn including dividends from Ford Credit."

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

Shares of Ford closed at $11.87 yesterday.

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