Ford Upgraded To Buy

Deutsche Bank has upgraded Ford Motor Company F from Hold to Buy after a long period of maintaining based on valuation. In its research report, Deutsche Bank writes "We have become less concerned about expectations for the NA and European markets, in light of recent demand trends, as well as downward revisions to Street expectations; We have become increasingly confident in Ford's ability to sustain recent market share gains; We have become more comfortable with Ford's ability to mitigate potential deterioration of mix; We have become more comfortable with Ford's pension obligation in light of recent market performance and discussions with industry and UAW management, and; We are now less concerned about the potential for investment alternatives (i.e. less expensive European and Japanese Automakers, or U.S. Auto sector IPOs) to detract from Ford's shares." Deutsche Bank also maintains its $19.50 price target. Ford Motor Company closed yesterday at $13.64.