Bank of America (NYSE:BAC) Boosts Ford (NYSE:F) Price Target

Analysts at Bank of America (NYSE:BAC) said they see auto sales recovering and increased their price target on Ford.

The fourth quarter EPS estimate was also raised, from $0.45 to $0.48, and for full year 2011 from $2.25 to $2.40 and full year 2012 from $2.40 to $2.55.

BofA believes their 2011 sales estimate for the industry is able to be supported, seemingly confirmed by recent acceleration in sales. Their estimates are higher than consensus.

Also cited was the apparent focus on costs and discipline by the automaker, with inventories seen as lean.

Ford was trading at $16.73, up $0.04, or 0.24 percent, as of 11:57 AM EST. Bank of America has a price target of $24 on them, raising it from $20.