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Ford Motor Co. continues to rise above its five-year high after RBC analysts raise ratings and raise price targets

Ford Motor Company shares.
F,
+ 4.50%

After RBC Capital analyst Joseph Spack turned bullish, Thursday’s pre-market trading continued to rise, with confidence in automakers’ financial goals. F-150 Lightning Electric Truck Perhaps it’s a “watershed” moment for businesses and the industry. After performing sector performance for at least the last three years, Spak has raised its rating to outperform while raising its share price target from $ 13 to $ 17. After rising 8.5% on Wednesday, stock prices rose 3.0% prior to Thursday’s opening. Closed at the highest price in 5 years In response to the company’s efforts to make electric vehicle sales 40% of global sales by 2030, the F-150 Lightning “not only protects the Golden Goose, but also has unique features such as intelligent backup power. Expanding opportunities for the F-150 franchise through. ” Spak wrote in a note to the client. “Ford is already very strong in commercial vehicles, but now it offers more attractive products through electrification and connectivity that could increase its share in this profitable segment.” Ford’s share price is expected to open at the highest price seen during normal session hours since December 2015, with rival General Motors shares up 58.1% so far until Wednesday.
GM,
+ 3.87%

S & P 500, up 39.5%
SPX,
+ 0.27%

It has increased by 11.7%.

Ford Motor Co. continues to rise above its five-year high after RBC analysts raise ratings and raise price targets

Source link Ford Motor Co. continues to rise above its five-year high after RBC analysts raise ratings and raise price targets

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