Citi Maintains Buy on Ford

Citi is out with its report today on Ford F, maintaining Buy. In a note to clients, Citi writes, "We remain constructive on auto stocks and the Ford turnaround story, and we are Buy-rated on Ford shares (1H) on a 12-month valuation-based risk/reward framework. Shares have come under pressure in 2011 YTD and, currently, the risk/reward appears imbalanced. Ford shares are likely to benefit from Japan-related pricing/share gain opportunities in the near- to medium-term and a strong product pipeline through 2012." At the time of posting, shares of F were trading pre-market at $13.02, down 0.99% from Wednesday's close.