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Barclays Defends Ford (F): Despite Europe and Lack of N-T Catalyst, Shares Are Cheap!

July 26, 2012 5:19 PM EDT
Get Alerts F Hot Sheet
Price: $13.28 +1.68%

Rating Summary:
    12 Buy, 21 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Barclays reiterates an 'Overweight' on Ford (NYSE: F) price target of $13.00 (from $15.00).

Analyst, Brian A. Johnson, said, "Expectations have been reset, but stock may lack a catalyst in the near term. Despite a modest 2Q beat to consensus (30c vs. consensus of 28c) and a strong NA result (EBIT margin of 10.2%), the focus for Ford remains on Europe. While the stock is trading a multi-year low and is currently cheap relative to historical levels (~7.2x our '12 EPS estimate), we are increasingly convinced that the shares lack any catalyst until later in the year when Ford might present a restructuring plan for Europe."

FY12 EPS estimate lowered from $1.50 to $1.24 and FY13 from $1.79 to $1.53.

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 $8.97 yesterday.


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