Ford, GM advance after Jefferies turns bullish
F•Jefferies upgrades Ford and GM
Shares of Ford and General Motors rose on Monday after Jefferies upgraded both car makers to buy from hold.
F shares were up 2.4% at $14.71, while GM stock rose 3.6% to $85.62 in early trade.
GM target raised on 2027 outlook
The brokerage raised its price target on GM by $9 to $99, saying after Q2 earnings it is confident that 2027 will further strengthen the company's competitive position in the U.S.
Next year is expected to be more supported by the product cycle, efficiency and some diversification, Jefferies said, pointing to the expected launch of new Silverado/Sierra trucks late in 2026 amid low inventory and "stable" market share given GM's already dominant position in full-size segments.
Broker views and upcoming Ford results
The average rating of 24 brokerages covering Ford is "hold" and the median price target is $14; the average rating of 28 brokerages on GM is "buy" with a median price target of $100, according to LSEG data.
Ford is slated to report Q2 results on Tuesday, Jul. 28, after market close.
With the moves on the session, Ford shares are up 12% and GM is up about 5% year to date.
Ford price target raised on margin trough view
Jefferies hiked its price target on Ford by $3 to $17.50 and called a "margin trough," saying it sees Q2 as a low point for volume and expects it to "normalize up" following aluminum producer Novelis' restart of production at its New York plant.
