Both companies will report earnings on Thursday. Analysts surveyed by Thomson Reuters forecast second-quarter earnings of 58 cents a share for GM and 36 cents for Ford. Citigroup analyst Itay Michaeli said he expects GM to beat estimates; he has a price target of $48. J.P. Morgan analyst Ryan Brinkman calls GM "our top overall pick." S&P Capital Markets analyst Efraim Levy has a strong buy. As for Ford, Brinkman on Tuesday trimmed his second-quarter estimate to 34 cents a share, although he retained an overweight rating. Levy has a buy rating on Ford and an $18 price target. Michaeli said he is "not forecasting a second-quarter beat. Ford stock "has performed well," Michaeli wrote in a report issued Monday. "The immediate reaction to the quarter could initially be modest. However, Q2 data points should support further second half share price momentum."