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Ford Motor Company
F.NISIN: US3453708600SEDOL: 2615468 |
Rating: BUY |
Target Price: 10.27 USD |
Investment Horizon: 6 to 12 months |
3Q 09 Earnings Update
We expect Ford to continue to improve its top-line, aided by gradual recovery in industry volumes, attributable to improvement in global economic conditions, improving market share in core markets, North America and Europe, and improved average realizations aided by new products. Solid growth in demand for cars in emerging markets, India and China, also augurs well for Ford's top-line growth....
2Q 09 Earnings Update
Ford's improved top-line and operating performance during the quarter reflects the company's efforts of restructuring its product portfolio and cost reduction activities, which appear to remain on track. Although we continue to expect the ongoing downturn in North America and Europe to continue to pressurise the company's revenues, we expect Ford's revenues to be supported by improved market share, coupled with higher average realizations associated with…
Company News Alert
As part of its initiative to promote fuel efficient vehicles, the Obama administration on 23 June 2009 announced that it will lend US$5.9 bn to Ford Motor Company (Ford) from the US$25 bn program created in 2007 to enable automakers to meet new fuel efficiency standards by 2016. The repayment of these loans by the company is expected to commence from 2012. These loans will enable Ford to upgrade 11 plants across the US to produce fuel efficient vehicles and support…
Initiation Report
We believe Ford's plans to increase the mix of Crossover Utility Vehicles (CUVs) and fuel efficient compact cars in its portfolio will have a favourable impact on revenues over the longer term. Although the company has a strong development pipeline of fuel efficient vehicles for the next 2 years, we expect the company to experience intense competition from domestic and Japanese peers....
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