UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Ford Motor Company Ahead of Expected Challenging Truck Turnover

In a report published Tuesday, Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on Ford Motor Company F, but removed the $17.00 price target. In the report, Morgan Stanley noted, “Ford will enter the critical stages of changeover to its all-new 2015 F-150 pickup truck during the summer shut-down period shortly after Alan Mulally's last day as Ford President and CEO on July 1st. The F-Series is America's #1 selling vehicle, by itself accounting for >1% of the global car market. Cutting 700lbs from this truck entails one of the most audacious engineering projects in Ford's history. Based on our discussions with investors, we see scope for near-term negative surprise with the changeover – perhaps some unavoidable challenges required to take the battle of automotive material science to the next level.” Ford Motor Company closed on Monday at $16.88.