Diamonds and Dogs
Upgrade for Ford (F). Ford is up 6% to new recent highs following an investor event yesterday where the company outlined plans to spend $8 billion more on vehicle electrification between now and 2025. RBC analyst upgraded Ford to a Buy from Hold with a $17 target today based on confidence in the company hitting its goal of an 8% operating profit margin, which would be double the prepandemic 2019 figure of roughly 4%.
Dollar Tree (DLTR) trading lower following earnings. Dollar Tree is down 7% even though the company beat estimates. Sales only grew 3% year over ear. Going forward, the company lowered guidance for the rest of the year due in larger part to higher freight costs. However, the freight costs will not be permanent.
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