Morgan Stanley's Jonas downgrades Ford, says EV strategy is not clear

Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan.
Nic Antaya | Getty Images

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Ford's pivot to electric vehicles lacks a clear direction and its share price will suffer as a result, according to Morgan Stanley.

The firm's Adam Jonas downgraded the stock to equal weight from overweight on Wednesday, saying the company's electric vehicle plan was not as targeted as those of other original equipment manufacturers, including GM.