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Car Wars: Ford Analyst Raises Price Target, Praises Product Pipeline

Car Wars: Ford Analyst Raises Price Target, Praises Product Pipeline
On Wednesday, Bank of America released its annual Car Wars study of the strength of U.S. automaker product pipelines.

The Analyst: Analyst John Murphy said he was impressed by the recent Ford Motor Company (NYSE:F) Capital Markets Day event and sees more upside for the stock in the near future.

“In our view, a higher assumed multiple for Ford is warranted as the company is gaining more credibility and is on the verge of executing something analogous to our Core to Future transition framework, by which it will strengthen core business pillars to fund its future businesses,” Murphy wrote in the note.

Murphy also reiterated his Buy rating for Ford and raised his price target from $14.50 to $17.

Related Link: Consumer Reports Slams Tesla's Full-Self Driving Capability
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