Credit Suisse Upgrades Ford (F) to Outperform
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(Updated - October 20, 2021 4:26 AM EDT)
Credit Suisse analyst Dan Levy upgraded Ford (NYSE: F) from Neutral to Outperform with a price target of $20.00 (from $15.00).
The analyst comments " When we downgraded Ford early last year, our concern was that Ford was struggling in balancing the “two clocks” - near-term execution issues would ultimately limit Ford’s ability to adequately prepare for the long-term transition of the auto industry. Yet in the past year +, we’ve seen a significant turnaround underway at Ford - it has ended its cycle of quarterly earnings disappointments, and its transition to an EV/digital world has sharply accelerated. We believe there is more opportunity ahead, as Ford can benefit not only from improving fundamentals, but more importantly changing its perception on long term positioning in EV/AV/digital. We upgrade Ford to Outperform (from Neutral)."
Shares of Ford closed at $15.42 yesterday.
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