Shares of Ford F are reacting to a price target cut from $20 to $17 by Morgan Stanley, trading down 1.6 percent to $15.83. The firm maintained an Overweight rating on the stock.
Analyst Adam Jonas reduced the 2015 earnings per share forecast by 12 percent from $2.08 to $1.83 for three reasons:
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- Increased competition in the U.S. market. The analyst expects “vastly improved cars on U.S. shores from 2015.
- Lightweighting of F-Series pickup applies up-front pressure to North America margins.
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