Ford's stock price target lowered to $12 at Morgan Stanley
Ford Motor Co. is reaching its full earnings potential, and about to enter more challenging and uncertain times, analysts at Morgan Stanley said in a note Wednesday. The analysts cut their price target on Ford stock to $12 from $15, adding that Wall Street may be too bullish about the company's earnings this year. Like its U.S. peers, Ford benefits from "strong market conditions" at home and in the European Union and China, the analysts said. "Moving forward, these markets are exposed to greater cyclical factors that present negative earnings risk," they said. Shares of Ford fell 4.2% on Wednesday at $11.91. Shares are down 27% in the past 12 months, and 18% in the last three months; that compares with losses of 10% and 8.7%, respectively, for the S&P 500 index.
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