This Analyst is Bullish on 4 Auto Stocks for the Rest of 2022

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1. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 46

Ford Motor Company (NYSE:F) is a Dearborn, Michigan-based auto manufacturer. The company has the distinction of being the fourth biggest auto manufacturer in the world.

On August 2, Michaeli increased the price target on Ford Motor Company (NYSE:F) from $15 to $16 and reiterated a Neutral rating on the stock. The analyst closed his “90-Day Upside Catalyst Watch” on Ford Motor Company (NYSE:F) as he thinks that the near-term catalysts have been factored into the stock. Michaeli increased the full-year EPS estimates on Ford Motor Company (NYSE:F) from $1.98 to $2.02. The company is in the process of simplifying the operations of conventional fuel-powered automobiles.

Furthermore, Ford Motor Company (NYSE:F) is also working towards making its operations leaner as it believes that there is an excess workforce at some locations. In July, the company reported a 36.6% YoY jump in auto sales to 163,942 vehicles as opposed to the auto industry experiencing a fall of 10.5% during the same period.

Ford Motor Company (NYSE:F) was discussed in the Q1 2022 investor letter of Baron Funds. Here’s what the fund said:

“Ford (NYSE:F) is another example of typical industrial manufacturing business executive mindsets. The April 18, 2022, Bloomberg Businessweek cover story features Ford CEO Jim Farley behind the wheel of an electrified Ford F-150 Lightning. The article is titled, “Hey Elon, THIS is a truck.” I thought the article was terrific. One idea especially stood out to me. Since the F-150 is such a popular vehicle, it “argued for a gradual approach to electrification. Essentially the company retrofitted an existing F-150 with an electric powertrain rather than develop an entirely new truck.” No all-in financial and operation bet by this company on electrification.”

You can also take a peek at The 10 Stocks That Jim Cramer Is Talking About and Top Ten Semiconductor ETFs to Buy in 2022.

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