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Ford Falls After Morgan Stanley Downgrade on EV Strategy

Ford Falls After Morgan Stanley Downgrade on EV Strategy

Shares of Ford  (F) – Get Report were downgraded at Morgan Stanley on concern about the automaker’s electric vehicle strategy.

Morgan Stanley downgraded Ford to equal-weight from overweight while the investment firm affirmed its $9 price target. 

Ford shares at last check were 4.5% lower at $9.03. 

Ford has the right urgency for electric vehicles, Morgan Stanley’s note said, but its strategy is not fully clear to the firm.

“The business remains saddled in Europe (which we value at negative
$9 billion) and is subscale in China vs. other major [original equipment manufacturers],” analyst Adam Jonas said. 

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Christine Watkins

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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