Piper Sandler raised its price target on Ford by 15.8% to $11, after the company’s third-quarter financial results beat Wall Street’s expectations.
As of Friday morning, the automaker’s shares had jumped over 11% to $13.70.
Despite the higher target, the new $11 estimate still implies an 11% downside from Monday’s close of $12.34.
In a new research note published on Friday — and obtained by PriceTarget — analyst Alexander Potter reaffirmed the firm’s Neutral rating on the stock.
Potter signaled a “better than feared” outlook and a “better than expected” quarter.
A recent change in tariff policy could increase Ford‘s EBIT (Earnings Before Interest and Taxes) by $1 billion, the analyst said, which has led him to feel “comfortable increasing our margin outlook in 2026.”
Late last week, President Donald Trump signed new orders that expand tax credits for domestic auto and engine production, while extending the 25% tariff on imported medium- and heavy-duty trucks and parts starting November 1.
This Friday, and since both GM and Ford reported their financial results for the third quarter, Trump highlighted that his decisions have positively impacted the two Detroit automakers.
“Ford and General Motors [are] UP BIG on Tariffs placed on Big and Midsized Trucks coming from other countries. Thank you President Trump!,” the President wrote on Truth Social.
On Wednesday, GM‘s share value surged over 14%, after the company posted quarterly earnings results that were also above the Street’s estimates.
Potter stated that, in addition to improving margins, Piper Sandler is increasing its revenue outlook on Ford, supported by what he calls “resilient” pricing.
“Higher prices haven’t reduced demand,” the analyst said, considering that the automaker reported earlier this month 545,522 vehicles sold in the third quarter, a 8.2% increase year over year.
Of those, 85,789 were electric vehicles, which jumped nearly 20% from a year before, as demand surged ahead of the EV consumer credit deadline on September 30.
The analyst further noted that, “if not for a recent fire at Novelis […], the company would’ve boosted guidance today.”
After suspending its guidance in May, the Detroit automaker revised its 2025 financial outlook to account for supply chain disruptions — both from the tariffs and from the fire.
Potter predicts that aluminum supply, on which Ford depends mostly for production of the F-150 pick-up, will be “normalized in 2026.”
By then, “Ford should be operating at a more profitable run-rate,” the analyst added.
On Friday, RBC Capital analyst Tom Narayan also lifted Ford‘s price target from $11 to $12 — implying a 2.8% drop if considering Monday’s closing price.
The firm has a Sector Perform rating on the stock.
