Ford shares rose Friday after Bank of America Merrill Lynch upgraded the equity to buy from neutral.
The brokerage highlighted Ford’s favorable profit outlook, the result of what’s expected to be a strong utility vehicle and truck lineup over the next few years and a major restructuring at the automaker.
The upgrade comes as “Ford’s ‘tough’ days [are] starting to fade into the rearview,” wrote Bank of America Merrill Lynch autos analyst John Murphy. The company should “hit Escape velocity in 2H:19+ with solid Car Wars position … upgrade to Buy.”
