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F

Ford

$8.18

-0.39 (-4.55%)

07:58
10/25/18
10/25
07:58
10/25/18
07:58

Ford Q3 beat, guidance reiteration provide some relief, says Morgan Stanley

After Ford reported Q3 adjusted EBIT that was close to 10% above the consensus view and reiterated its full year EPS guidance, Morgan Stanley analyst Adam Jonas said he believes the report can help calm negative sentiment and falling expectations in the equity and credit markets. Jonas, who thinks the stock reaction will be positive, "but probably not the big inflection," reiterates an Equal Weight rating and $10 price target on Ford shares.

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F Ford
$8.18

-0.39 (-4.55%)

10/19/18
MSCO
10/19/18
DOWNGRADE
MSCO
Equal Weight
Ford downgraded to Equal Weight from Overweight at Morgan Stanley
10/19/18
10/19/18
DOWNGRADE
Target $10

Equal Weight
Morgan Stanley downgrades Ford to Equal Weight on lack of restructuing progress
As previously reported, Morgan Stanley analyst Adam Jonas downgraded Ford (F) to Equal Weight from Overweight, stating that he now believes the market needs more evidence of success before embracing the Ford restructuring story. While Jonas sees to potential for "tens of thousands" of headcount cuts, he is increasingly concerned that the capital markets do not have confidence Ford will take decisive action fast enough, he tells investors. General Motors (GM) has taken decisive action to attract significant outside capital that validates its GM Cruise investment, and Jonas values Cruise at $11.5B. In contrast, his valuation of Ford's Argo AI business has stayed at $1B, and he sees no clear catalysts for how such assets can be recognized by the market, he added. Jonas cut his price target on Ford shares to $10 from $14.
10/19/18
10/19/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Las Vegas Sands (LVS) downgraded to Buy from Conviction Buy at Goldman Sachs. 2. eBay (EBAY) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying PayPal's (PYPL) earnings release last night suggested weak eBay gross merchandise volume trends in Q3. 3. Ford (F) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Adam Jonas saying he now believes the market needs more evidence of success before embracing the Ford restructuring story. 4. BNY Mellon (BK) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Brian Kleinhanzl saying while the company beat estimates this quarter, several line items were weaker than expectations. 5. Harley-Davidson (HOG) downgraded to Market Perform from Outperform at BMO Capital with analyst Gerrick Johnson saying his previously expected catalysts for sales and earnings did not materialize. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/18
UBSW
10/25/18
NO CHANGE
Target $13
UBSW
Buy
Ford guidance reiteration a meaningful positive, says UBS
UBS analyst Colin Langan noted Ford reported better than expected Q3 results and reaffirmed its guidance. The analyst said given the China headwinds, the reaffirmation of guidance was a meaningful positive. The company highlighted its progress in China dealer inventory down to 45 days and coming product launches along with expectations Q1 will be a turning point. Langan reiterated his Buy rating and $13 price target on Ford shares.

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GOLD

Barrick Gold

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

$0.00

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NFLX

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3.61 (1.02%)

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Week of 5/24 Baker-Hughes…

UAL

United Continental

$81.10

0.19 (0.23%)

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6.01 (1.71%)

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UAL

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American Airlines

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Visa

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EHC

Encompass Health

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IONS

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, BIIB

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IONS

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$67.35

0.215 (0.32%)

BIIB

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$229.80

0.75 (0.33%)

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2.75 (3.26%)

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XRT

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RGNX

Regenxbio

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RGNX

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NVS

Novartis

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TIVO

TiVo

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VWAGY

Volkswagen

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CNC

Centene

$56.30

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SPY

SPDR S&P 500 ETF Trust

$282.86

0.67 (0.24%)

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