Ford investors are grappling with a big question right now: Will the company's new CEO revive the automaker's stock price?
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MORGAN STANLEY: Ford's new CEO was not appointed to 'run a normal car company' (F)
The bank thinks the new CEO represents a "potential for an unconventional realignment of the business."
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On Monday the automaker hired the former Mark Fields, who was fired on May 22.
As reported by Business Insider's Joe Ciolli,
was appointed CEO to run a 'normal' car company."
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"We see the potential for an unconventional realignment of the business," Jonas added.
The bank outlined its expectations for the automaker under Hackett's control. They are as follows:
- The automaker will lower its earnings outlook.
- Monetize strengths.
- Transform the automaker into a tech company.
- Hackett needs to start swinging.
The bank is underweight on Ford's stock. It has a price target of $10, below the company's current market price of about $11.07.
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