DETROIT — Shares of Ford Motor hit a brand new 52-week excessive for a 3rd consecutive day Thursday, placing the inventory on tempo for its greatest week since not less than June.

The inventory is up about 20% this week, together with a rise of as a lot as 11.9% throughout intraday buying and selling Thursday morning. Shares reached as excessive as $12.15 on Thursday — the inventory’s highest worth since June 2018. They have been buying and selling up about 8% as of early Thursday afternoon.

The surge follows optimistic feedback from Deutsche Financial institution and Barclays on Ford’s product plans and reporting of fourth-quarter earnings on Feb. 4, together with optimism about its steerage for 2021. The automaker earlier this month additionally obtained reward for its all-electric Mustang Mach-E crossover after Ford allowed a number of analysts to test-drive the automobile.

Deutsche added a catalyst call short-term purchase thought on shares of Ford on Wednesday and stated it was bullish on the corporate’s upcoming earnings report and future product plans, including the Bronco SUV. The agency stored its long-term maintain ranking on the inventory.

“We see potential catalysts occurring within the coming months, together with a strong 2021 outlook on its 4Q earnings name (2/4), the launch of quite a few key fashions underneath its new govt management crew, and Capital Markets Day within the spring the place Ford might reboot its redesign program and current a brand new EV technique,” Deutsche’s Emmanuel Rosner wrote in an investor word.

Barclays adopted up Thursday by reconfirming that it stays above consensus for Ford on the premise of Ford’s ongoing $11 billion restructuring and product cadence. The automaker final week introduced it might end production in Brazil at an anticipated price of $4.1 billion in pretax expenses as a part of the restructuring.

Nevertheless, Barclays stated it stays extra bullish on Ford’s crosstown rival, General Motors, attributable to its deal with electrical automobiles. GM’s plan consists of launching 30 new EVs by 2025 underneath a $27 billion funding in electrical and autonomous automobiles. Ford has stated it is investing more than $11.5 billion in electrified automobiles, together with all-electric and plug-in hybrid fashions, by means of 2022.