Citi raised the firm’s price target on Ford to $16 from $15 and keeps a Buy rating on the shares. The company reported an in-line Q4 and encouraging 2024 guidance, the analyst tells investors in a research note. The firm says Ford’s outlook highlights some of the underappreciated aspects of the story – Pro franchise, product cycle and resilient U.S. auto demand. Citi expects a favorable reaction as consensus estimates likely rise and confidence around Ford’s execution grows.
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