Morgan Stanley said Ford shares could rise 127% if the company is able to tap a new source of revenue from data subscriptions. The automaker’s shares closed at $ 10.88 on Tuesday. Morgan Stanley’s prediction comes after Ford announced on Monday it would sign a six-year deal with Alphabet’s Google worth hundreds of millions of dollars. The automaker has announced it will leverage software, artificial intelligence and cloud computing from the tech giant to tackle Ford’s growing connectivity in vehicles. The partnership would also allow Ford and Lincoln vehicles to use features like Google Play, Google Maps, and Google Assistant from 2023. Ford has also named Google Cloud as the preferred cloud provider for its entire ecosystem. Morgan Stanley analysts, led by Adam Jonas, said the alliance had the potential to double Ford’s market cap to nearly $ 100 billion, or $ 25 per share, before discounting. In a customer announcement, Jonas applied a 20x EV / EBITDA multiple to the Dearborn, Michigan-based company.
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