$Ford(F)$In a research note, Citi analyst Itay Michaeli raised his price target for Ford Motor to $23 from $20 and maintained a "neutral" rating. In addition, the analyst raised his earnings forecast for 2020-2023 to reflect the company's fourth quarter, In particular, the strong growth trend in the US market.
$General Motors(GM)$However, Michaeli sees more upside potential in General Motors, while maintaining a "constructive stance" on Ford. The analyst noted the industry's top pick for GM, which is expected to benefit from new truck updates and electric vehicle launches by 2023, with a long-term upside of $200 per share.
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