Deutsche Bank Boosts Numbers on Ford (F), Calls Top Pick; Shares Undervalued
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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
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Deutsche Bank boosted its estimates and price target on Buy-rated Ford (NYSE: F) from $16 to $18.
The firm comments, "Although we see both Ford and GM as undervalued, Ford appears particularly well-positioned in 2012, due to: 1) Ford’s product refresh rates in 2011 (16%) and 2012 (28%) should contribute to further pricing upside in 2012 / 2013; 2) F is more defensive in a rising fuel price environment ($100MM impact from 100bp’s in production mix shift to cars in 2011, compared to $750MM for GM); 3) We expect the return of significant operating leverage in 2012, as commodities become neutral ($1.5bn) and unusual headwinds in 2011 at least partially reverse ($1.3bn)."
Q1 EPS goes down from $0.41 to $0.36, FY12 EPS goes from $1.41 to $1.51 and FY13 goes from $1.60 to $1.67.
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 $12.24 yesterday.
The firm comments, "Although we see both Ford and GM as undervalued, Ford appears particularly well-positioned in 2012, due to: 1) Ford’s product refresh rates in 2011 (16%) and 2012 (28%) should contribute to further pricing upside in 2012 / 2013; 2) F is more defensive in a rising fuel price environment ($100MM impact from 100bp’s in production mix shift to cars in 2011, compared to $750MM for GM); 3) We expect the return of significant operating leverage in 2012, as commodities become neutral ($1.5bn) and unusual headwinds in 2011 at least partially reverse ($1.3bn)."
Q1 EPS goes down from $0.41 to $0.36, FY12 EPS goes from $1.41 to $1.51 and FY13 goes from $1.60 to $1.67.
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 $12.24 yesterday.
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