Analysts atMorgan Stanleysparked a shakeup across auto stocks Wednesday as the firm moved to the sidelines on automakers and turned more positive on dealers and parts companies.
What Happened:Morgan Stanley analystAdam JonasdowngradedFord Motor Co(NYSE:F),General Motors Co(NYSE:GM) andRivian Automotive Inc(NASDAQ:RIVN) on Wednesday as he cut his overall U.S. auto industry outlook from Attractive to In Line.
Jonas' more sour view of the auto industry landscape is being driven by a combination of factors he believes may not be fully understood by the market, including climbing inventories...
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