Jefferies Cuts Numbers on Ford (F) Ahead of Results, But Remains Bullish
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Price: $12.95 --0%
Rating Summary:
12 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 5
Rating Summary:
12 Buy, 21 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 5
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Jefferies trimmed up numbers on Ford (NYSE: F) ahead of Friday's first quarter earnings report. Despite the cuts, the firm is keeping their Buy rating.
The firm's price target goes from $16 to $15 and EPS for the quarter go from $0.45 to $0.35, which is more in-line with the consensus of $0.36. FY12 EPS goes down from $1.52 to $1.46 but FY13 goes up from $1.84 to $1.87.
The analyst comments: "Ahead of Friday's report, we scrubbed our Ford model to reflect several recent developments. The net impact: A cut to 1Q estimates on tax rate and int'l profits, but (surprisingly) a modest increase to our forward estimates into a higher SAAR, planned production increases, and recent incentive cuts. Macro names like the OEMs clearly face challenged sentiment. We think the market's focus on Friday will be on Ford's int'l profitability."
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 $11.39 yesterday.
The firm's price target goes from $16 to $15 and EPS for the quarter go from $0.45 to $0.35, which is more in-line with the consensus of $0.36. FY12 EPS goes down from $1.52 to $1.46 but FY13 goes up from $1.84 to $1.87.
The analyst comments: "Ahead of Friday's report, we scrubbed our Ford model to reflect several recent developments. The net impact: A cut to 1Q estimates on tax rate and int'l profits, but (surprisingly) a modest increase to our forward estimates into a higher SAAR, planned production increases, and recent incentive cuts. Macro names like the OEMs clearly face challenged sentiment. We think the market's focus on Friday will be on Ford's int'l profitability."
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 $11.39 yesterday.
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