Ford Motor Co. F,
The stock rose almost 9% on Thursday, expected to end at its highest level in three years and at the pace of its biggest one-day percentage increase since June 5. The shares are up for three consecutive sessions, gaining 23% in the period. Ford’s stock rose earlier this week with a target price increase from Deutsche Bank and a $ 2.65 billion investment round for electric truck maker Rivian, which is supported by Ford and others. Deutsche Bank analysts on Wednesday raised their target for Ford’s shares from $ 9 from $ 9 to $ 11, and maintained their assessment of the shares on hold. Analysts said they expected “strong volume growth in 2021” for the auto industry, due to “easy” comparisons with 2020, low inventories and “COVID-19-induced demand for comfort, privacy and protection”, as well as a US Democrat Congress, which “may also result in increased demand for large federal spending on infrastructure and vehicle electrification,” they said. Ford shares have gained 27% over the past two years, compared to gains of around 16% for the S&P 500 index. SPX,
