Soleil Raises Price Target on Ford (F) to $20 - New Street High
October 20, 2010 8:59 AM EDT
An analyst at Soleil Securities set a new Street-high price target on shares of Ford (NYSE: F) this morning. The firm raised its target from $18 to $20 and maintained a Buy rating.
Notably, Deutsche Bank previously held this title with a $19.50 price target.
Ahead of Q3 earnings expected out on Tuesday, October 26, Soleil said it raised EPS estimates on Ford, and as a result, the price target.
* FY10 from $1.75 to $1.95 * FY11 from $1.95 to $2.20 * FY12 from $2.10 to $2.35
Soleil argues that "Ford's cost and revenue restructuring have positioned the company to be a prime beneficiary of an improving industry environment, and a faster-than-expected improvement in its balance sheet..."
With shares of Ford trading up 0.9% to $13.44 this morning, Soleil's new price target represents potential upside of about 49%.
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