Ford price target raised to $20 from $19 at Benchmark

Benchmark raised the firm’s price target on Ford to $20 from $19 and keeps a Buy rating on the shares to reflect higher assumptions after the company reported better than expected results from Ford Blue and lower than expected losses at Ford Next that accounted for a Q1 earnings beat. Ford’s guidance for 2023 is unchanged despite the beat, but Benchmark has increased its 2023 assumptions to the upper end of the range, the analyst noted.