On July 15, Ford Motor rose 3.01% in regular trading, trading at $14.34 per share, with turnover of $156 million. The stock gained momentum following a series of positive developments including a tentative labor agreement in Canada and multiple analyst price target increases.
Ford reached a tentative labor agreement with Unifor covering approximately 5,150 union members at its Canadian operations, including workers at the Oakville Assembly Complex, Windsor Annex, and Essex Engine plants. Union members will vote on the deal at ratification meetings scheduled for July 17 to 19. The agreement was unanimously endorsed by the Unifor Ford Master Bargaining Committee, removing a key labor uncertainty overhang.
Meanwhile, BNP Paribas raised its price target on Ford to $14 from $13, maintaining a Neutral rating. Barclays similarly lifted its target to $14 from $13 earlier this month. Ford currently carries an average analyst rating of Hold with a mean price target of $14.91, suggesting further upside from current levels.
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