Ford may beat consensus estimates in the third quarter, an analyst at Barclays has said, as he raised his outlook for the quarter and upgraded shares to “equal weight” from “underweight.”
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Ford continues to benefit from new and used car pricing trends that should boost third-quarter results in Ford Credit and in its North American operations, analyst Brian Johnson wrote in a note to clients cited by Reuters.
Ford’s European operations, however, may have been under pressure this quarter because of a weak pound/euro exchange rate as well as product mix, Johnson reportedly said.
But being the fourth largest player in Brazil is likely to have benefited Ford due to the robustness of the Brazilian market, Johnson added.
The analyst raised his price target on the stock to US$8 from $7, and narrowed his third-quarter loss estimate for the company to 7 cents a share from 16 cents a share.
Analysts on average expect Ford to post a third-quarter loss of 15 cents per share, according to Thomson Reuters I/B/E/S.
