Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Why Ford Stock Is Rising Today

Published 05/10/2022, 13:17
Updated 05/10/2022, 14:10
© Reuters.  Why Ford Stock Is Rising Today

© Reuters. Why Ford Stock Is Rising Today

Ford Motor Co (NYSE: NYSE:F) shares are trading higher Wednesday following positive analyst coverage from Morgan Stanley (NYSE:MS).

What Happened: Morgan Stanley analyst Adam Jonas upgraded Ford from Equal-Weight to Overweight and set a $14 price target. Jonas believes the recent pullback offers an attractive buying opportunity.

Ford shares are down nearly 20% over the last month, but the stock traded higher Tuesday after the company said its electric vehicle sales tripled last month.

Ford said it sold a total of 142,644 vehicles in September, consisting of 68,299 trucks, 70,887 SUVs and 4,691 EVs. EV sales were up 197.3% on a year-over-year basis. Ford also said its EV share increased 3.1% to 7% of the total market.

The F-150 Lightning was America's best-selling electric pickup truck last month. The company's E-Transit vans were America's best-selling electric vans in September.

"Demand remains strong with new retail orders rapidly expanding," said Andrew Frick, vice president of sales, distribution and trucks, Ford Blue.

F Price Action: Ford has a 52-week high of $25.87 and a 52-week low of $10.61.

The stock was up 1.46% at $12.54 at time of publication, according to Benzinga Pro.

Photo: courtesy of Ford.

Latest Ratings for F

DateFirmActionFromTo
Feb 2022 Wells Fargo (NYSE:WFC)MaintainsOverweight
Feb 2022Morgan StanleyMaintainsUnderweight
Feb 2022 Credit Suisse (SIX:CSGN)MaintainsOutperform
View More Analyst Ratings for F

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.