Citi analyst Itay Michaeli raised the firm’s price target on Ford to $18 from $16 and keeps a Buy rating on the shares after meeting with management. While the rest-of-year outlook contemplates seasonality, launches and assumed price moderation, management views strong Pro results as sustainable, the analyst tells investors in a research note. The firm walked away with continued conviction in its Buy thesis and updated Ford’s model post the Q1 report.
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