Ford (F) Gets Wall Street Love

Ford (NYSE: F) seems to have everything going right for it lately - earnings, competitor recalls and a surging stock price. Wall Street is loving it.

Recently, Goldman Sachs analysts said they see the market share and earnings growth potential of Ford Motor Co. (NYSE: F) becoming stronger with help from the Toyota Motor Corp. (NYSE: TM) recall last month. Last month Toyota announced that it was suspending eight of its most popular models and earlier this week the beleaguered automaker said that it would also recall the latest version of the widely-popular Prius hybrid model.

Goldman is projecting the resurgence of Ford, which has seen its stock's share price move from $1.50 a year ago to a recent peak of $12.14, to be additionally supported in the short term by the rash of recalls that has plagued Toyota.

Consequently the firm raised its 2010, 2011 and 2012 market share estimates for the Detroit-based auto maker to 16.25 percent, 16.75 percent and 17 percent respectively, from previous forecasts of 16.25 percent, 16.5 percent and 16.5 percent.

Goldman also increased its estimate for earnings per share for 2010, 2011 and 2012 to 77 cents, $1.14 and $1.50 respectively from the previous expectation of 75 cents, $1.12 and $1.37.

While the Toyota struggles and the more recent Honda Motor Co. (NYSE: HMC) faulty airbag recall, Goldman still sees the gain in market share for Ford coming from customers leaving Chrysler and General Motors.

Goldman currently has a price target for Ford at $15 up from the $12 level before fourth quarter results and the Toyota recall announcement.

Shares for Ford are down 21 cents on Wednesday to $10.93 in late market movement, while Toyota shares are rebounding slightly by 1.5 percent to $75.72. Toyota shares have fallen from a peak of $91.97 in recent weeks amid the company’s safety concerns.

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