Ford CEO Jim Farley takes off his mask at the Ford Built for America event at the Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan.
Nic Antaya | Getty Images
DETROIT – Ford Motor shares hit a 52-week high on Thursday for the third day in a row on Thursday, putting the stock on pace for the best week of at least June.
Shares rose about 20% this week, including an increase of up to 11.9% during intraday trading on Thursday morning. Shares reached $ 12.15 on Thursday – the highest price of the stock since June 2018. They were trading at about 8% since early Thursday afternoon.
The rise follows positive comments from Deutsche Bank and Barclays about Ford’s product plans and earnings reporting for the fourth quarter on February 4, including optimism about its guidance for 2021. The automaker earlier this month also received praise for Mustang Mach E crossover after Ford allowed several analysts to drive the test of the vehicle.
Deutsche on Wednesday added an idea to buy Ford’s short-term shares of Ford shares and said it is optimistic about the company’s earnings report and future product plans, including the Bronco SUV. The company has maintained its long-term rating on the stock.
“We see potential catalysts emerging in the coming months, including a solid outlook in 2021 on its 4Q (2/4) earnings call, the launch of a number of key models in its new executive management team and Capital Markets Day in the spring, where Ford could restart its redesign program and present a new EV strategy, “Emmanuel Rosner of Deutsche wrote in a note to investors.
Ford launches Bronco 2021 with over 200 factory-supported aftermarket accessories for more capacity and customization.
Source: Ford
Barclays followed on Thursday, confirming that it remains above consensus for Ford, based on the ongoing restructuring of Ford’s $ 11 billion and the cadence of the product. Last week, the carmaker announced it would cease production in Brazil at an estimated cost of $ 4.1 billion in pretax taxes 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 electric vehicles by 2025, under a $ 27 billion investment in electric and autonomous vehicles. Ford said it will invest more than $ 11.5 billion in electrified vehicles, including all-electric hybrid plug-in models by 2022.