Craig-Hallum Sees 32% Upside In Ford Shares, Upgrades to Buy

Craig-Hallum on Monday upgraded shares of Ford Motor(NYSE: F) from Hold to Buy and raised the price target from $16 to $21.

Analyst Steve Dyer's upgrade is based on the recovery in Europe taking hold, accelerating prospects in Asia Pacific and the 2015 F-series launch which is “right around the corner in North America.”

Dyer sees a situation playing in similar to last year's launch of its new full-sized pickup line last year where “the flurry of launch and warranty costs impacting EPS right now will have subsided.”

Given the company's balance sheet, profitability, and dividend yield, Dyer sees “little risk to Ford shares here.”

Shares of Ford are up 0.38 percent to $15.84 in Monday's trading.