DETROIT – Ford Motor’s marketplace price topped $one hundred billion for the primary time ever because the automaker’s inventory hit a brand new 52-week excessive Thursday.

The company’s stocks jumped Thursday via way of means of as plenty as 5.7% to $25.87, hitting every other 20-plus-yr excessive, earlier than remaining at $25.02 a proportion, up 2.3%. Its marketplace price dropped to $ninety nine.ninety nine billion.

The profits had been fueled via way of means of Ford’s plans to boom manufacturing of electrical vehicles, along with the Mustang Mach-E crossover and an upcoming electric powered model of its bestselling F-a hundred and fifty pickup that’s due out this spring. The efforts are a part of a Ford+ turnaround plan led via way of means of CEO Jim Farley, who took over the helm in October 2020.

Ford’s now really well worth greater than crosstown rival General Motors, at about $ninety billion, in addition to electric powered car start-up Rivian Automotive, at $seventy two billion, which has didn’t preserve profits following a blockbuster IPO in November. Ford keeps to seriously path Tesla, which has a marketplace cap of greater than $1 trillion.

The automaker is rated obese with a fee goal of $21.eighty three a proportion, in keeping with a mean of twenty-two analysts compiled via way of means of FactSet. But now no longer all Wall Street analysts haven’t absolutely sold into Ford’s turnaround.

“The inventory marketplace’s appeal to the Ford EV tale keeps to take us via way of means of surprise,” Morgan Stanley analyst Adam Jonas informed buyers in a Thursday observe called “Ford Market Cap Crosses $100bn: What’s In the Price?”

Morgan Stanley’s fee goal for Ford is $12 a proportion. Its bull case for the inventory is $25 a proportion, in keeping with Jonas.

“Ford’s proportion fee motion is mind-blowing and control deserve credit score for converting the strategic narrative, triggering a re-rating,” Jonas said. “However, at this juncture, we accept as true with the dangers dealing with Ford and the world are growing quicker than the opportunity.”

Jonas stated worries concerning the car industry’s traditionally cyclical nature returning, demanding situations in scaling EV manufacturing and greater aggressive and attractive EVs coming into the marketplace towards Ford.