According to CNBC, Citigroup upgraded Ford Motor to buy from neutral on Wednesday and raised its price target to $20, implying 33% upside from Tuesday's close. Analyst Michael Ward said Ford's earnings reflected strong first-half results, a profitable product mix and improved pricing, and he raised his 2026 estimate to $1.90 per share from $1.75 after the automaker reported 2Q 2026 EPS of $0.42 versus $0.14 a year earlier. Ward said accelerating F-series production in the second half, lower warranty accruals, an improved aluminum supply and moderating material costs should help Ford later this year. He also said the company's energy business could eventually become a higher-margin revenue source, though monetizing it is still a few years away.