Autos

Jim Cramer backs Ford to outperform recovery favorites

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CNBC’s Jim Cramer on Thursday endorsed Ford Motor as having the best odds of staging the biggest rally now through early February.

As athletes and celebrities in CNBC’s annual Stock Draft picked recovery favorites earlier Tuesday, Cramer, who is not a participant, said he backs the traditional automaker to make significant gains. 

“When the expectations were highest – both yesterday and then 10 years ago – Ford got pulverized. Now they’re incredibly low, and that makes it easy for management to surprise to the upside,” Cramer said.

Ford CEO Jim Farley told Cramer Wednesday that he expects the chip shortage impact will hit a trough in the second quarter and that production will rebound…



Source cnbc.com

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