For the first time, Ford Motor’s (NYSE:F) market capitalization reached above $100 billion, making Ford the fifth-most-valuable automaker in the world, according to data from Bloomberg.

Shares of the company climbed above $25 on Thursday and, by close of trading, its stock price was up 2.3% after rising 5.7% earlier in the day.

Over the past 12 months, stock gains have come as Ford leans into the shift towards electric vehicles with improving profit margins and an upward trajectory since late September.  

However, the recent climb may have some investors scratching their heads, questioning the motivation behind the sudden rise as there wasn’t any market-moving news about Ford on Thursday. The only affair closely related to the uptick was the Deutsche Bank who recently raised its price target on Ford.

Moreover, MS analyst Adam Jonas expects a variety of factors to cool enthusiasm in the coming quarters, including weaker pricing, high raw-material costs, and difficulty in ramping up EV production.


FORD INSIGHT

According to Reuters, Ford is now worth more than General Motors (NYSE: GM), its century-old rival whose market cap stands at about $88.61 billion, and electric vehicle start-up Rivian Automotive, whose value is about $77.8 billion.

Benchmark analyst Mike Ward believes Ford’s product lineup is the best in decades, having boosted his price forecast for Ford’s stock from $24 to $29, growing more bullish on Ford’s prospects.

The automaker’s F-150 Lightning EV pickup truck is scheduled to be available by spring 2022, while the company recently announced its plans to double the truck production to 150,000 units per year by 2023.

Newly appointed CEO of Ford, Jim Farley, has pledged to invest more than $30 billion in EVs, including battery development by 2030, and has positioned the centenarian auto giant well for an electrified future.

Over the past year, Ford shares have gained about 156% from its market cap at $38.91 billion a year ago.


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