Officer Alan Mulally added U.S. market share and boosted prices without a federal bailout, two analysts said.
The shares may reach $9.50 in six months, Goldman, Sachs & Co.’s Patrick Archambault wrote in a July 24 (Bloomberg) -- Ford Motor Co.’s stock may gain as much as 36 percent after Chief Executive report. Deutsche Bank’s Rod Lache in New York raised his target price to $8 from $5.50. Ford slid 18 cents, or 2.6 percent, to $6.83 at 9:36 a.m. in New York Stock Exchange composite trading as U.S. stocks fell.
“Overall, we were impressed with the execution of Ford’s turnaround plan,” Lache wrote today, maintaining his “hold” rating. Ford’s North American region, its biggest, “appears to be on the right track.”
Mulally cut $10.1 billion from the Dearborn, Michigan-based automaker’s liabilities this year with a debt exchange and seeks union concessions to match those granted to General Motors Co. and Chrysler Group LLC in U.S.-backed bankruptcies. Smaller sales declines at Ford have helped boost U.S. market share.
Ford more than tripled this year through yesterday for the second-biggest advance in the Standard & Poor’s 500 stock index. The shares surged 9.4 percent yesterday after Ford’s second- quarter adjusted loss beat analysts’ estimates.
The results show Ford may be “best positioned to deliver” on auto industry “momentum,” wrote Archambault, who is based in New York and advises buying the shares. Mulally has reduced costs while also raising prices, Archambault wrote.
A rising share price may allow Ford to sell more stock, Joseph Amaturo, a New York-based analyst for Buckingham Research Group, wrote today. He rates the stock as “neutral.” JPMorgan Chase & Co. and Credit Suisse Holdings USA Inc. made similar predictions last week. Ford issued 345 million shares in May, raising $1.6 billion.
Ford’s adjusted loss was 21 cents a share, excluding one- time costs and gains, narrower than the 50-cent average loss estimate among 12 analysts surveyed by Bloomberg. Net income was $2.26 billion, or 69 cents a share, primarily on a $3.4 billion non-cash gain resulting from shrinking debt.
The shares may reach $9.50 in six months, Goldman, Sachs & Co.’s Patrick Archambault wrote in a July 24 (Bloomberg) -- Ford Motor Co.’s stock may gain as much as 36 percent after Chief Executive report. Deutsche Bank’s Rod Lache in New York raised his target price to $8 from $5.50. Ford slid 18 cents, or 2.6 percent, to $6.83 at 9:36 a.m. in New York Stock Exchange composite trading as U.S. stocks fell.
“Overall, we were impressed with the execution of Ford’s turnaround plan,” Lache wrote today, maintaining his “hold” rating. Ford’s North American region, its biggest, “appears to be on the right track.”
Mulally cut $10.1 billion from the Dearborn, Michigan-based automaker’s liabilities this year with a debt exchange and seeks union concessions to match those granted to General Motors Co. and Chrysler Group LLC in U.S.-backed bankruptcies. Smaller sales declines at Ford have helped boost U.S. market share.
Ford more than tripled this year through yesterday for the second-biggest advance in the Standard & Poor’s 500 stock index. The shares surged 9.4 percent yesterday after Ford’s second- quarter adjusted loss beat analysts’ estimates.
The results show Ford may be “best positioned to deliver” on auto industry “momentum,” wrote Archambault, who is based in New York and advises buying the shares. Mulally has reduced costs while also raising prices, Archambault wrote.
A rising share price may allow Ford to sell more stock, Joseph Amaturo, a New York-based analyst for Buckingham Research Group, wrote today. He rates the stock as “neutral.” JPMorgan Chase & Co. and Credit Suisse Holdings USA Inc. made similar predictions last week. Ford issued 345 million shares in May, raising $1.6 billion.
Ford’s adjusted loss was 21 cents a share, excluding one- time costs and gains, narrower than the 50-cent average loss estimate among 12 analysts surveyed by Bloomberg. Net income was $2.26 billion, or 69 cents a share, primarily on a $3.4 billion non-cash gain resulting from shrinking debt.
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