Jefferies analyst Philippe Houchois upgraded the rating on Ford Motor to a Buy today, setting a price target of $17.50.

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Philippe Houchois has given his Buy rating due to a combination of factors, starting with his view that Ford’s margins and volumes are likely near a cyclical low, with production expected to normalize and U.S. demand remaining supportive. He anticipates management could lift guidance as Q2 results confirm stabilizing operations, while improved capital allocation from initiatives like the universal EV platform and BESS investment strengthens long‑term profitability.

Houchois also notes that Ford is actively resolving structural overhangs, including warranty costs and its capital-heavy European footprint, which should enhance returns and reduce risk. On his forecasts, Ford trades at an undemanding earnings multiple with an attractive free‑cash‑flow yield, and the historic valuation gap versus GM has largely closed, making the stock’s risk‑reward compelling and justifying a price target of $17.50 and a Buy recommendation.

In another report released on July 21, J.P. Morgan also maintained a Buy rating on the stock with a $16.00 price target.