Goldman Sachs Has Conviction Buy On Ford (F)

Goldman Sachs has Ford (NYSE: F) on its Conviction Buy List, and discusses the fallout from Japan on the automakers in a research note.

In the note sent to investors, Goldman notes, "We believe investors will ultimately look through 2011 production shortfalls that are not demand-related. While we trim our 2011 estimates by an average 5%, 2012E rises by 3%, yielding price targets with an average upside of 20%. We view weakness in the shares as a buying opportunity as we believe we are still in the early stages of a global demand rebound, with valuations that are not fully reflecting sector EBITDA and FCF growth prospects. Our top ideas remain CL-Buy rated Ford and Dana."

Shares of F gained 7 cents yesterday to close at $14.98, a gain of nearly 0.5%.