NEW YORK (TheStreet) -- Shares of Ford Motor Co. (F) are gaining, up 2.81% to $14.99 in afternoon trading Thursday, following the car maker's report that showed an increase in European car sales by 8.1% in October, marking the fifth straight monthly gain, Reuters reports.The car maker said it benefited from growing demand in Britain and Italy, as it outperformed the industry's growth of 6.5%.
The Michigan-based automaker sold a total of 98,100 vehicles, including 76,900 passenger cars in the European markets for the month of October. Commercial car sales increased 31% to 21,200 units for the month compared to a year ago, Reuters added.
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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 multiple 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 attractive valuation levels, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."