Ford Motor Company F 0.49% has finally shed light on its restructuring strategy, but its Thursday report inspired ambivalence in a newborn bull. The Rating Morgan Stanley analyst Adam Jonas, who double upgraded Ford on Wednesday, reiterated an Overweight rating with a $15 price target. The Thesis Jonas was encouraged by the standard integration of advanced driver-assistance systems — a strategy he said brings Ford on par with competitors — as well as the shift from cars to pickups and SUVs, which are projected to account for 86 percent of Ford’s U.S. sales by 2020. “From this perspective, Ford’s retail channel passenger car business would be nearly irrelevant,” Jonas said in a Friday note. “This suggests a positive mix trend and also suggests a great deal of competition and crowding headed to the currently profitable U.S. light truck segment.” The hybrid bear was less enthused about Ford's push toward hybrid powertrains, which “makes products more vulnerable to obsolescence risk.”Source