Ford Motor Co. F,
shares rose nearly 9% on Thursday, poised to close at the highest level in three years and at the pace for the biggest one-day percentage increase since June 5th. Shares are up for three consecutive sessions, gaining 23% over the period. Shares of Ford received gains earlier this week, as Deutsche Bank raised its price target and a $ 2.65 billion investment round for electric truck maker Rivian, which is backed by Ford and others. Deutsche Bank analysts on Wednesday raised their target for Ford shares to $ 11 from $ 9 and maintained their share rating. Analysts say they expect a “strong volume increase in 2021” for the auto industry due to “light” comparisons with 2020, low stocks and “demand for comfort, privacy and protection induced by COVID-19,” as well as a Democrat The U.S. Congress, which “could also lead to increased demand for high federal spending on infrastructure and vehicle electrification,” they said. Ford shares have gained 27% in the last two years, compared to gains of about 16% for the S&P 500 index. SPX,