Morgan Stanley adjusts estimates ahead of Ford’s (F) 1Q release

Morgan Stanley reiterated an Overweight rating and $14.00 price target on Ford Motor Company (NYSE: F) ahead of the American automaker’s 1Q earnings release. Ford is scheduled to report 1Q earnings results on Mary 2nd.

Analyst Adam Jonas wrote in a note, “Following strong 1Q results from GM driven by price and ICE, we look ahead to F's print on May 2nd featuring new reporting segmentation. Like other OEMs, Ford must decide what kind of EV strategy to pursue: Grow fast and burn cash or a more focused approach that prioritizes capital discipline.”

Morgan Stanley estimates Ford will report 1Q units at 1.063mn, compared to 1.099mn units previously. Automotive revenue for 1Q stands at $38.64bn vs $39.27bn previously. The decrease in units is partially offset by higher ATP ($38,567 vs $37,950). Total company revenue estimates for 1Q stands at $40.99bn vs $41.69bn previously with full year standing at $157.29bn vs $159.04bn prior.

1Q Adj EPS now stands at $0.44 vs $0.27 previously, with full year now at $1.39 vs $1.28 previously.

Shares of F are up 0.61% in pre-market trading on Thursday.

By Michael Elkins | [email protected]

You May Also Be Interested In

• Nokia OYJ (NOKIA:FH) (NOK) PT Raised to EUR18 at JPMorgan
• McGraw Hill (MH) PT Lowered to $14 at UBS on Softer 2027 Outlook
• RLJ Lodging Trust (RLJ) PT Raised to $10 at Truist Securities