Ford price target raised to $11 from $10 at Citi

Citi analyst Michael Ward raised the firm’s price target on Ford (F) to $11 from $10 and keeps a Neutral rating on the shares. The stock has been range-bound between $10 and $14 per share over the last three years amid problems with new vehicle launches, increases in warranty accruals, and losses with battery electric vehicle production, the analyst tells investors in a research note. The firm says that while two new vehicle launches in North America in Q1 have been on track thus far and losses at Ford Model E improved, warranty remains as issue.