Ford stock could climb another 12% with a boost from its refreshed vehicle lineup and inflation, JP Morgan says.
In a note to clients on Friday, JP Morgan analysts led by Ryan Brinkman reiterated their “overweight” rating on shares of Ford and increased their price target to $18 from $16.
The price target represents a potential 12% jump from Thursday’s closing share price.
Brinkman and his team said they expect Ford to benefit from the improved availability of semiconductors, a strong price/mix due, at least in part, to inflationary forces, and its new electric vehicle lineup.
