Jefferies analysts upgraded shares of Ford Motor (NYSE:F) to Buy from Hold with the price target of $16 per share, up from the prior $13.

The analysts have increased confidence in Ford after attending last week’s Investor Day and believe the company is finally well-positioned to “close a deficit of execution that has dogged shares for years.”

“After too many years of management instability post Mulally (2006-14), Ford has put together a coherent team mixing internal and senior talent from outside the auto industry including CEO Jim Farley’s open mind towards new business models and inspiration from Tesla when applicable,” the analysts said in a client note.

The analysts see an attractive investment opportunity in Ford shares and highlight the wider-than-usual gap between the company’s guidance (10% margin by 2026) and a consensus that is below 6%.

“We expect sequential improvements across divisions.”

Ford shares are up 3% in pre-open Tuesday.