Goldman Raises Earnings Estimates For Ford, GM, Suppliers

Author:: Yi Ping Ho
Publish date:: Feb 2, 2001 1:57 PM EST

Goldman Sachs

analyst Gary Lapidus gunned his engines and raised his earnings-per-share estimates for some automakers and their suppliers Friday, despite Thursday's

less-than-glowing sales report by the Big Three carmakers.

Lapidus raised his 2001 earnings-per-share estimate for

Ford

(F) - Get Report

to $2.65 from $2.40, maintaining his rating on the stock as a market outperformer. He also upped his 2001 estimate for rival

General Motors

(GM) - Get Report

to $3.75 from $2.50, and his 2002 estimate to $5.30 from $4.75. Both GM and Ford said Thursday they expect industry sales to pick up later in the year.

Shares of Ford recently fell 85 cents, or 1.23%, to $28.02, while GM gained 80 cents, or 1.47%, to $55.15, in afternoon trading on the

New York Stock Exchange

. Rival

DaimlerChrysler

(DCX)

, which Lapidus did not mention, was lately trading down $1.39, or 2.93%, to $46.06.

Lapidus also projected higher 2001 earnings for auto parts companies

Delphi Automotive Systems

(DPH)

Johnson Controls

(JCI) - Get Report

Lear