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- Goldman Sachs has upgraded Ford to ‘buy’ with a $ 12 price target.
- Analyst David Tamberrino says a refreshed product line and cost improvement could lead to 30% gains.
- Ford jumped more than 6% following the upgrade — follow the stock live in real-time here.
Goldman Sachs has upgraded Ford to a buy rating from neutral, with a $ 12 price target that implies a potential 30% upside to the struggling automaker’s.
“While we still expect a downward earnings trajectory into 2019 (North America profit under-pressure), we believe next year will represent trough earnings and the combination of a refreshed product cadence globally as well as cost improvements from strategic initiatives will begin to take hold,” David Tamberrino, Goldman’s automotive analyst, said in a note to clients Monday, according to the Detroit Free PressSee the rest of the story at Business Insider
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