UPDATE 1-Citi keeps sell rating on Ford; raises target price


Nov 23 (Reuters) - Citigroup on Monday raised its price target for Ford Motor Co citing improved earnings and slightly higher multiples, but maintained a "sell" rating based on valuation and relative risk or reward. Citigroup analyst Will Randow raised his target price on shares of the No. 2 U.S.-based automaker to $6.50 from $4.40. Following Ford's third-quarter results and convertible debt offering, the analyst also revised the company's 2009-11 EPS estimates upward to reflect improved ...

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