Ford CEO Jim Farley takes off his mask at the Ford Built for America event at the Fords Dearborn truck factory on September 17, 2020 in Dearborn, Michigan.
Nic Antaya | Getty Images
DETROIT – Ford Motor shares hit a new 52-week record for the third consecutive day on Thursday, putting the shares at the pace of their best week since at least June.
The stock rose about 20% this week, including an increase of up to 11.9% during intraday trading on Thursday morning. The shares reached $ 12.15 on Thursday – the highest share price since June 2018. They were trading at an increase of around 8% in the early afternoon of Thursday.
The increase follows positive comments from Deutsche Bank and Barclays on Ford’s product plans and reports on fourth-quarter earnings on February 4, including optimism about its projections for 2021. The automaker earlier this month also received praise for its Mustang Mach- electric. The crossover after Ford allowed several analysts to test the vehicle.
Deutsche added a short-term buyout idea of a catalyst call on Ford’s shares on Wednesday and said it was optimistic about the company’s earnings report and future product plans, including the Bronco SUV. The company maintained its long-term retention rating for the shares.
“We see potential catalysts taking place in the coming months, including a solid 2021 outlook on your 4Q (2/4) earnings conference call, the launch of a number of important models under your new executive leadership team and Capital Markets Day. in the spring, where Ford could restart its redesign program and present a new EV strategy, “wrote Emmanuel Rosner of Deutsche in a note to investors.
Ford is launching the 2021 Bronco with over 200 factory replacement accessories for increased capacity and customization.
Source: Ford
Barclays followed on Thursday, reconfirming that it remains above consensus for Ford based on the ongoing $ 11 billion restructuring and product cadence. The automaker announced last week that it would end production in Brazil at an expected cost of $ 4.1 billion in pre-tax charges as part of the restructuring.
However, Barclays said it remains more optimistic about Ford’s rival, General Motors, due to its focus on electric vehicles. GM’s plan includes the launch of 30 new EVs by 2025, with a $ 27 billion investment in electric and autonomous vehicles. Ford said it is investing more than $ 11.5 billion in electrified vehicles, including all-electric and plug-in hybrid models, by 2022.