Ford share price could double: source
NEW YORK (Reuters) - Shares in automaker Ford Motor (F.N) could double from a turnaround being led by Chief Executive Alan Mulally, according Barron's April 7 story.
While a recession could hurt projected sales, the story noted that Ford stock has a safety margin attractive to value shareholders, at its $6.49 price, near a 25-year low.
According to the story, David Markowitz of value hedge fund SLS Capital, which owns Ford shares, sees it earning $1.44 a share in 2009, more than double the Wall Street expectations.
Barron's said Ford has recently been trading at less than half its historical multiple at about 2.2 times expected 2009 cash flow.
- French warplanes search Mali desert for crashed Air Algerie plane |
- At least 15 killed by shelling of Gaza school; toll exceeds 760 |
- Exclusive: Ukraine rebel commander acknowledges fighters had BUK missile
- U.S. House panel votes to authorize lawsuit against Obama
- Lawyers call for outside probe of 'bungled' Arizona execution |