Ford Motor Co. F,
stocks were up nearly 9% on Thursday, poised to finish at their three-year high and on track for their largest one-day percentage gain since June 5. The stock is up three consecutive sessions, up 23% over the period. Ford’s stock was boosted earlier this week by a price increase by Deutsche Bank and a $ 2.65 billion round of investment for electric truck manufacturer Rivian, backed by Ford and others. Deutsche Bank analysts raised their target for Ford shares from $ 9 to $ 11 on Wednesday, and kept their rating on the stock. The analysts said they expect “strong volume growth in 2021” for the auto industry, due to “easy” comparisons to 2020, low inventories and “COVID-19-induced demand for comfort, privacy and protection,” as well as a democratic US Congress, that “could also result in an increase in demand from large federal spending on infrastructure and on vehicle electrification,” they said. Ford shares are up 27% in the past two years, compared to a gain of about 16% for the S&P 500 index. SPX,