UPDATE: Morgan Stanley Reiterates on Ford Motor as Changan Auto Drives Growth

In a report published Monday, Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on Ford Motor Company F, but lowered the price target from $68.00 to $21.00. In the report, Morgan Stanley noted, “We hold a more positive view on the competitiveness of upcoming models from Ford's main China partner, which we expect will put the company on higher growth trajectory and expect Changan's SUV is on a path to catch up with Great Wall's SUV growth pattern, and track Shanghai GM's 2008-12 volume trajectory.” Ford Motor closed on Friday at $17.08.