Analysts' Actions: Ford Downgrade, BofA Upgrade, New Coverage for AIG

In Monday's Analysts' Actions, Morgan Stanley downgrades Ford, Bank of America gets a boost and Citigroup initiates AIG. Ford (F) was downgraded at Morgan Stanley (MS) from 'Overweight' to 'Underweight.' The price target was also cut to $16 a share from $17. Morgan Stanley says high exposure to the U.S. market while the auto cycle is peaking is one of the factors for this downgrade. Goldman Sachs upgraded Bank of America (BAC) to a 'Buy' from 'Neutral' rating with a price target raise of 2 dollars to $19. The firm thinks BofA's legal issues are mostly resolved and investors will now focus on positives including earnings. AIG (AIG) is now being covered at Citigroup (C) with a buy rating. The price target is set at $68 dollars. That's about a 23 percent to the upside from where the stock is currently trading. The analysts at Citigroup think the global insurer has a 'substantial balance sheet and profitability improvement.'