Citigroup Upgrades Ford Following Stronger-Than-Expected Earnings Report
Ford Motor reported better-than-expected earnings after the market closed on Tuesday, prompting Citigroup to upgrade its rating for the stock from neutral to buy. Analyst Michael Ward cited strong first-half results and a profitable product mix as key factors behind the improved performance. The bank raised Ford's price target to $20 per share, implying potential upside of 33% based on Tuesday’s closing price. Ward highlighted that Ford reported second-quarter earnings of $0.42 per share in 2026 compared to $0.14 the previous year and adjusted its full-year estimate upward. He also noted positive momentum from increased F-series production, lower warranty costs, improved aluminum supply chains, and moderating material prices for the remainder of the year. While Citigroup’s upgrade is a rare optimistic stance on Ford—most analysts remain neutral or negative—the firm believes market sentiment may shift as these favorable trends continue. Ford shares rose more than 7% in early trading following the earnings report.
