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Far more analysts rate Ford stock at Buy than a year ago.

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Wall Street is getting more bullish on

Ford Motor

stock as the company works on improving both its near-term and long-term results.

Wednesday, Credit Suisse analyst Dan Levy upgraded shares of Ford (ticker: F) to Buy from Hold. His target for the stock price went to $20 from $15. Shares were at $15.64 early on Wednesday.

According to the analyst, Ford is managing the “two clock problem” better these days. Two clocks is Levy’s metaphor for the problem all traditional auto makers have. Auto makers need to post strong results now as the economy improves, but they also need to transition to an EV-centric world, which requires efficient capital management and product development.

“In the past year-plus, we’ve seen a significant turnaround underway at Ford,” wrote Levy in his upgrade report. There haven’t been any big earnings disappointments—an achievement that shows up on the short-term clock. And Ford has accelerated its EV spending, laying the groundwork for long-term prosperity.

Levy credits Ford CEO Jim Farley, who has been on the job for about a year, for the improved outlook. “In the brief period that Jim Farley has been at the helm at Ford, we and others on the Street have developed greater confidence in the long term direction of Ford,” added the analyst. “Moreover [Ford] under Farley is better showcasing the speed and urgency necessary to transition to an EV world.”

It’s a bullish take. Ford shares were up 1.4% in early trading. The

S&P 500

Dow Jones Industrial Average
were both up about 0.2%.

Coming into Wednesday, shares were up about 75% year to date. The stock has seen a few upgrades this past year.

With Levy’s new rating, almost 60% of analysts covering Ford stock rate it at Buy. A year ago, around the time Farley took over, only 21% of analysts rated shares Buy. The average analyst price target is now about $16 a share, up more than 100% from less than $8 a share a year ago.

It isn’t just Levy getting more bullish on Ford stock. His peers see better days ahead too. Twenty-two analysts cover Ford stock, according to Bloomberg. Today, 13 rate shares at Buy. A year ago, the number was four.

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