Ford Stock Has 27% Upside, According to 1 Wall Street Analyst

Ford Motor Company (NYSE: F) appears to be throttling back its efforts to shift toward producing more fully electric vehicles (EVs), and one analyst thinks this strategy makes good sense. This week, analyst Dan Levy boosted his price target on the automaker while continuing to say Ford shares should be bought.

Levy edged his price target for Ford stock up $1 to $16, but that would still represent a 27% gain over the next 12 months or so from Friday's closing price. That positive sentiment comes a week after Ford reported that its first-quarter U.S. EV sales soared by 86% year over year.

The analyst thinks that Ford stock can go higher despite those EV sales, not because of them.

Source Fool.com