Jefferies Has Buy Rating, $17 Target On Ford (F)

Jefferies & Co. has a Buy rating and a $17 price target on shares of Ford Motor Company F. In a note to clients, Jefferies writes, "Ford filed an 8-K indicating Asia Pacific production will likely be impacted by parts shortages from Japan. While likely immaterial, Ford cautioned shortages could become more significant if they spread. The industry dialog seems to have shifted from whether production will be impacted to whether North American production can ramp fast enough in 2H to make up for lost volumes. In our view, catch-up volume is likely to be lower margin." Shares of F lost 47 cents yesterday to close at $14.86, a loss of over 3%.