Citigroup upgrades Ford after better-than-expected earnings

Ford shares got a lift after Citigroup upgraded the automaker following better-than-expected earnings. Ford reported stronger results after the bell on Tuesday, and on Wednesday Citigroup raised its rating on the F-150 maker from neutral to buy, increasing its price target to $20—implying 33% upside from Tuesday’s close. Analyst Michael Ward said Ford’s second-quarter performance reflected strong first-half results, a more profitable product mix, and improved pricing. He cited 2Q 2026 EPS of $0.42 versus $0.14 a year earlier, plus a higher 2026 EPS estimate to $1.90 from $1.75. Ward expects momentum to shift as the second half production ramps.