Morgan Stanley Adjusts Estimates Following Ford Motor Company's Q1 Global Drought

A report by MorganStanley proved that with Ford Motor Company's F Europe and Asia Pacific sector's losses, North America must carry the weight of the quarter on its shoulders. Morgan Stanley stated, “Ford's FY guide of 2012 group pr etax ‘about equal' with 2011 levels implies EPS of $1.55. Our fcst of a 6% drop in group pretax to $8.2bn puts us at $1.45. NA pricing and mix are the key to Ford bettering our fcst.” The market closed yesterday at $12.47 per share as Morgan Stanley maintained a PT of $18.