Ford stock hits three-year high

Ford Motor Co. F,
+ 5.99%
Shares rose nearly 9% on Thursday, close to ending at their highest level in three years and keeping pace with their biggest one-day percentage increase since June 5. Ford shares were strengthened earlier this week thanks to an increase in Deutsche Bank’s price target and a $ 2.65 billion investment round for Ford-backed electric truck maker Rivian and others. Deutsche Bank analysts on Wednesday raised their target on Ford stock to $ 11 from $ 9 and kept their stock rating on hold. Analysts said they expected “strong volume growth in 2021” for the auto industry, due to “easy” comparisons to 2020, low inventory and “demand for convenience, privacy and convenience. protection induced by COVID-19 “as well as an American Democrat. Congress, which “could also lead to increased demand for significant federal spending on infrastructure and toward vehicle electrification,” they said. Ford stocks have gained 27% over the past two years, compared to around 16% for the S&P 500 Index. SPX,
+ 0.19%

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