Deutsche Raises Price Target on Ford (F) to Reflect New Estimates, Remains Bullish Long-Term

Deutsche Bank is reiterating its Buy rating on shares of Ford (NYSE: F), while raising its price target from $15 to $16.

The firm notes the company's 2011 results were stronger than originally appeared and highlights that management sees margin expansion in the Global Automotive business in 2012.

An analyst at Deutsche comments, "This is an important statement, considering the drags anticipated outside of North America in 2012. This reinforces our view there should be significant operating leverage in Ford’s core North American Auto Business in 2012. This should become apparent as soon as Q1 and Q2, and we believe that these results have potential to allay investors’ concerns."

The firm is raising its FY12 EPS estimate from $1.26 to $1.41, which is below the implied guidance of $1.52 to reflect lower North American market share and weaker European volumes. For FY13, Deutsche has released its initial EPS estimate at $1.60.

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 $12.21 yesterday.

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