Tuesday, October 24, 2006

Ford Gets Upgrade

October 24, 2006

Ford Motor Company is an exclusive partner of Sirius Satellite Radio. Today Ford was raised to "Neutral" by Goldman Sachs.

Article Excerpt:

Ford Raised to `Neutral' by Goldman on Restructuring Prospects

By Allen Wan

Oct. 24 (Bloomberg) -- Ford Motor Co. was upgraded to ``neutral'' from ``sell'' at Goldman, Sachs & Co., which expects restructuring measures at the second-biggest U.S. automaker to gain speed under Chief Executive Officer Alan Mulally.

``Viewed on fundamentals alone, Ford's outlook remains bleak,'' Goldman analyst Robert Barry wrote in a note today. ``But we think the focus will remain weighed to restructuring upside. It seems fair to assume Mulally will have at least some impact on improving Ford's turbid operation given his disciplined operating track record.''

Ford yesterday reported a $5.8 billion third-quarter loss, its biggest in 14 years, as sales continued to slump and the costs of shedding jobs mounted in North America. It also said it will restate five years of earnings because of accounting changes......

Interested SSG readers can catch the whole story HERE via Bloomberg