Whatever caused Ford Motor Co. (NYSE: F) shares to languish for months has gone away. In less than four weeks, the stock is 22% higher, during a period when the market is up 4%. Shares of rival General Motors are up by 15% during the same period. (These are the 15 most fuel-efficient trucks.)
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The most recent news from Ford is that it will cut 1,000 jobs. Rumors of the move have circulated for some time. That should not be enough for the stock surges.
One primary cause for the share activity is Wall Street upgrades from Citigroup, Jeffries and Daiwa. There were a number of reasons for this. Among the most important is that the U.S. car market should remain strong for a fairly long period and the demand for electric vehicles will quicken.
Ford can claim that it sits, perhaps with GM, in the spot behind Tesla based on U.S. market share. Each has a way to go before catching Elon Musk’s company. Musk has widened his lead with discounts. However, Ford is expected to have an expanded model line — perhaps wider than Tesla’s.
There is an acknowledgment that Ford’s promise to be a leaner, better-run company has come to pass. There is also a sense that Ford has started to address quality problems.
Once considered a troubled car company, Ford has started to emerge from that shadow.
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