Reported 12 days ago
Ford and General Motors saw their stock prices drop by around 5% following a downgrade from Morgan Stanley analysts, who highlighted challenges such as high inventories, falling prices, and increased competition from both domestic and international automakers, particularly from China. Ford was downgraded to 'equal weight' with a target price cut to $12, while GM was downgraded to 'underweight' with a target price reduced to $42. In contrast, several car dealerships received upgrades due to their advantageous market positioning.
Source: YAHOO