Ford price target raised to $16 from $14 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Ford (F) to $16 from $14 and keeps an Overweight rating on the shares. The firm is marking-to-market its forecasts ahead of Q2 and reiterates Overweight ratings on both Ford and General Motors (GM), telling investors that stronger than expected price/mix and a surprisingly resilient auto consumer “create beat-and-raise conditions” for the U.S. automakers.