DOW 8,033.36 +63.80
NASDAQ 1,676.46 +32.61
SP500 861.29 +11.21
F 4.39 +0.59. Bought at 4.38 for swing trade. Seven month high.
GM 1.70 +0. Day range 1.60 - 1.84.
Comtex Smartrend(r)
Shares of Ford (NYSE:F) rose as high as 14% Wednesday following an upgrade from Goldman Sachs (NYSE:GS), citing a "sea of change" in the US automobile industry. Goldman said it was time to buy the embattled automaker, setting a six-month target price of $6 a share. Goldman equity analyst Patrick Archambault wrote that Ford would benefit from "diminished presence" of its two of its largest competitors General Motors (NYSE:GM) and Chrysler due to highly likely bankruptcies in the oncoming weeks.
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