Ford stock's price target upped to $29 at Argus

Argus Research expert Bill Selesky connected Thursday raised his terms people connected Ford Motor Co. F, +3.44% shares to $29, from $20, citing the car maker's "strengthening equilibrium sheet" and "clearly defined" fiscal targets. "We judge that supply-chain problems and semiconductor spot shortages volition soon dissipate and supply greater opportunities for higher revenues and net performance" for Ford, Selesky said. The expert kept his bargain standing connected the stock. Ford shares person gained much than 174% successful the past 12 months, compared with gains of astir 25% for the S&P 500 scale SPX, -0.09% successful the aforesaid period. Ford shares surged earlier this week arsenic the institution said it plans to treble accumulation of its electrical F-150 Lightning pickup motortruck to meet "soaring lawsuit demand."