UPDATE: Wolfe Research Upgrades Ford (F) to Outperform
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Wolfe Research analyst Rod A. Lache upgraded Ford (NYSE: F) from Peerperform to Outperform with a price target of $15.00 (from $13.00).
The analyst comments "We see a very clear path for further improvement in 2022 and beyond. Ford will largely exit manufacturing in South America by the end of this year ($500 MM loss in 2020). We also expect Ford to largely eliminate losses in Europe ($800 MM loss in 2020). And we expect significant improvement in China (lost $500 MM in 2020). Warranty is also starting to turn around, after subtracting $2 bn from Ford’s annual profitability."
Shares of Ford closed at $11.79 yesterday.
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