Post by TonyV on Dec 23, 2009 2:44:23 GMT -5
Posted: 6:34 p.m. Dec. 22, 2009
Ford stock near a 4-year high
By BRENT SNAVELY
FREE PRESS BUSINESS WRITER
Ford Motor Co.’s stock is trading close to $10 per share and could soon exceed that mark as the company starts to build excitement over new products to be unveiled early next year at the Consumer Electronics Show in Las Vegas and the Detroit auto show.
Today, Ford’s stock closed at $9.90 per share. But if it tops $10, it would be the first time since Sept. 7, 2005.
“Some traders are looking for the Detroit auto show to generate the inevitable plethora of good publicity,” said Brian Johnson, industry analyst with Barclays Capital.
On Jan. 7, Ford President and CEO Alan Mulally is scheduled to be the keynote speaker at the Consumer Electronics Show in Las Vegas, where Ford technology announcements are expected. On Jan. 11, Ford is planning to unveil its all-new Ford Focus at the North American International Auto Show.
Ford shares have been steadily gaining all year after hitting a 2008 low of $1.26 per share on Nov. 19, 2008 — the same day Mulally testified before Congress in favor of financial aid for GM and Chrysler.
But the outlook on Ford has been improving since Ford passed on federal loans and its financial condition has improved. Ford earned $1.8 billion during the first nine months of the year, and it has gained a full point of U.S. market share through November.
Johnson estimates that Ford’s stock would be fairly valued at between $8 and $9 per share when the company’s heavy debt load is considered. But based on future expected earnings, Johnson said a higher price could be justified.
Johnson estimates that Ford will earn a profit of about $1.50 per share in 2011 and that Ford’s stock could be fairly valued as high as $15 per share based on that estimate.
Half of 18 analysts have a buy rating on Ford, according to information tracked by Bloomberg. Michael Ward, a research analyst with Soleil Securities, upgraded Ford to a buy rating today. “Ford continues to make progress on both the cost and revenue side of the restructuring,” Ward said in a report.
Contact BRENT SNAVELY : 313-222-6512 or bsnavely@freepress.com
Ford stock near a 4-year high
By BRENT SNAVELY
FREE PRESS BUSINESS WRITER
Ford Motor Co.’s stock is trading close to $10 per share and could soon exceed that mark as the company starts to build excitement over new products to be unveiled early next year at the Consumer Electronics Show in Las Vegas and the Detroit auto show.
Today, Ford’s stock closed at $9.90 per share. But if it tops $10, it would be the first time since Sept. 7, 2005.
“Some traders are looking for the Detroit auto show to generate the inevitable plethora of good publicity,” said Brian Johnson, industry analyst with Barclays Capital.
On Jan. 7, Ford President and CEO Alan Mulally is scheduled to be the keynote speaker at the Consumer Electronics Show in Las Vegas, where Ford technology announcements are expected. On Jan. 11, Ford is planning to unveil its all-new Ford Focus at the North American International Auto Show.
Ford shares have been steadily gaining all year after hitting a 2008 low of $1.26 per share on Nov. 19, 2008 — the same day Mulally testified before Congress in favor of financial aid for GM and Chrysler.
But the outlook on Ford has been improving since Ford passed on federal loans and its financial condition has improved. Ford earned $1.8 billion during the first nine months of the year, and it has gained a full point of U.S. market share through November.
Johnson estimates that Ford’s stock would be fairly valued at between $8 and $9 per share when the company’s heavy debt load is considered. But based on future expected earnings, Johnson said a higher price could be justified.
Johnson estimates that Ford will earn a profit of about $1.50 per share in 2011 and that Ford’s stock could be fairly valued as high as $15 per share based on that estimate.
Half of 18 analysts have a buy rating on Ford, according to information tracked by Bloomberg. Michael Ward, a research analyst with Soleil Securities, upgraded Ford to a buy rating today. “Ford continues to make progress on both the cost and revenue side of the restructuring,” Ward said in a report.
Contact BRENT SNAVELY : 313-222-6512 or bsnavely@freepress.com