Positive Auto Sales Prompts Vetr To Upgrade Ford To 'Strong Buy'

On Friday, the Vetr crowd upgraded its rating on Ford Motor Company (NYSE: F) from the stock's previous rating of 4 stars (Buy), issued 90 days ago, to 4.5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was unanimously positive, with 100 percent of Vetr user ratings bullish.

The start of June came with some hopeful signals for the automaker, which just experienced a change in leadership just over a week ago from previous CEO Mark Fields to the former CEO of Grand Rapids-based office furniture maker Steelcase Inc. (NYSE: SCS). The good news came in the form of a 2.2 percent gain in month-over month auto sales for the company over the course of May. The auto sales data boosted the stock by about 40 cents to a intraday high over $11.50 before dipping slightly to finish the day at $11.41.

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Currently, the Vetr crowd's average target price for Ford is up at $12.45, which is still below the average analyst rating of $13.76. Ford Motor Company is a popular stock on Vetr as more than 2 percent of users are holding the stock in their watch-lists.

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