Report: FoMoCo’s stock could hit $30 per share
Recently, Morgan Stanley analyst Adam Jonas said that Ford”s stock could jump as high as $30.00 per share if industry sales recover and the company gains market share. On that forecast, investors have shown confidence in the only Detroit automaker that didn”t receive a government bailout. The stock price climbed 44 cents today to $16.51. Friday, shares of the company closed above $16 for the first time since June 2004.
We”ve really fundamentally fixed our cost structure,” Ford Executive Chairman Bill Ford said today on financial news network CNBC. “We”ve made $7 billion this year already in what would be historically in a very depressed automotive market.”
Under Alan Mullally, stock price has doubled since 2006, and he has cut costs by selling brands and closing plants – all while increasing market share.
– By: Stephen Calogera
Source: Free Press
