Morgan Stanley Lowers General Motors Company Price Target, Reduces Estimates

Morgan Stanley on Tuesday lowered the price target on shares of General Motors Company (NYSE: GM) from $29 to $27 and maintained its Underweight rating within a Cautious industry view.

Adam Jones reduced General Motors estimates by 9 percent to as much as 24 percent from 2015 through 2017 due to increased macro international pressure. Analysts find that General Motors has as much international exposure as Ford Motor Company (NYSE: F); the company reduced guidance due to international pressure during the investor conference on September 29.

Jones stated, “We believe many elements from Ford’s recent profit warning are applicable to GM's outlook through 2015 and beyond. At its investor day, GM understandably focused its attention on reestablishing cultural and strategic momentum.They didn't warn, so we'redoing it for them.”

Shares of General Motors recently traded at $33.10, down 2 percent. Shares are down roughly 17 percent year to date.