NEW YORK (TheStreet) -- Ford (F) stock has been reiterated as a "buy," Deutsche Bank said Monday. The firm said Ford's underlying performance in its recently-reported quarter was better than it appeared.
Deutsche Bank had expected earnings of 31 cents a share in the automaker's first quarter. Ford posted adjusted profits of 25 cents a share.
"But excluding ~$500MM of unusual items incurred in North America, North American pretax earnings would have been exactly on target with our $2.0 bn estimate and total company pretax earnings would have been ~$1.9 bn, which compared with our $1.8 bn estimate," analysts wrote in the report.
Deutsche Bank said it continues to believe the company is on track for a "favorable earnings inflection.
Separately, TheStreet Ratings team rates FORD MOTOR CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FORD MOTOR CO (F) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, attractive valuation levels, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."