Jim Farley, Ford CEO, takes off his mask at the Ford Built for America event at Ford’s Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan.
Nic Antaya | Getty Images
DETROIT – Ford Motor stocks hit a new 52-week high for the third straight day, bringing the stock up to speed for the best week since at least June.
The stock is up about 20% this week, including a gain of up to 11.9% during Thursday morning intraday trading. Stocks hit as high as $ 12.15 in intraday trading on Thursday before closing 6.2% at $ 11.53 per share – the stock’s highest closing price since June 2018. Ford’s market cap is more than 45 billion dollars. USD.
The increase follows positive comments from Deutsche Bank and Barclays on Ford’s product plans and fourth-quarter reporting on February 4, including optimism about the forecast for 2021. The automaker also received praise for its all-electric Mustang earlier this month Make-E Crossover after Ford allowed several analysts to test the vehicle.
The German on Wednesday added a short-term buy idea for Ford stock and said she was bullish about the company’s upcoming earnings report and future product plans, including the Bronco SUV. The company maintained its long-term hold rating on the stock.
“We see potential catalysts in the months ahead, including a solid outlook for 2021 on earnings guidance for the fourth quarter (2/4), the launch of a number of key models under the new leadership team, and the Spring Capital Markets Day Ford might be redesign -Restart the program and introduce a new EV strategy, “wrote the German Emmanuel Rosner in an Investor Note.
Ford launches the 2021 Bronco with more than 200 factory-supported accessories for enhanced performance and personalization.
Barclays re-confirmed Thursday that it remains above consensus for Ford based on Ford’s ongoing $ 11 billion restructuring and product cadence. The automaker announced last week it would cease production in Brazil as part of its restructuring at an estimated cost of $ 4.1 billion in pre-tax fees.
However, Barclays said it continues to be more optimistic about Ford’s rival General Motors due to its focus on electric vehicles. GM plans to roll out 30 new electric vehicles by 2025 as part of a $ 27 billion investment in electric and autonomous vehicles. Ford has announced that it will invest more than $ 11.5 billion in electric vehicles, including all-electric and plug-in hybrid models, by 2022.