Ford price target raised to $17 from $16 at Jefferies

Jefferies analyst Philippe Houchois raised the firm’s price target on Ford (F) to $17 from $16 and keeps a Buy rating on the shares. Just released U.S. sales data “continues to paint a picture of resilience” in the auto industry, says the analyst, who expects Q2 results to support fiscal year upgrades despite continuing macro risks and “a tense UAW climate.” The firm’s Q2 estimates run above consensus at Ford and General Motors (GM) and it has taken fiscal year estimates for both to the upper end of EBIT guidance and remains inline on Stellantis (STLA), whose “key appeal is relative valuation,” the analyst tells investors.