UPDATE: Morgan Stanley Upgrades Ford (F) to Overweight, Prefers Over GM

October 5, 2022 6:11 AM EDT
Get Alerts F Hot Sheet
Price: $13.86 -1.56%

Rating Summary:
    12 Buy, 18 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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(Updated - October 5, 2022 6:15 AM EDT)

Morgan Stanley analyst Adam Jonas upgraded Ford (NYSE: F) from Equalweight to Overweight with a price target of $14.00.

The analyst prefers the stock over GM and said lower expectations brings stock to below our unchanged $14 price target. "3Q profits warning coupled with macro concerns have resulted in a decline in buy-side expectations and sharp pull-back in shares," Jonas commented. "Ford shares trade at approximately 8x our normalized EPS forecast of $1.50."

Jonas also notes corporate restructuring by year-end and a favorable regulatory envelope as IRA has the potential to improve the return-on-investment for Ford’s US on-shore EV investments which they have not yet reflected in our forecasts.

For an analyst ratings summary and ratings history on Ford click here. For more ratings news on Ford click here.

Shares of Ford closed at $12.36 yesterday.

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