The Gers striker is having a phenomenal season at Ibrox with a 29-goal haul.
The Light Blues have valued him at £20million, same as former Celtic ace Moussa Dembele’s value.
The French striker made a record move to the Ligue 1 side Lyon.
Now, the former Gers player Ferguson claims that Morelos is only worth half of that.
He said, (h/t The Sun)
“They got Morelos in for I think £1million. In the market what is he worth? £8million? £10million touching?
“So that’s the kind of market Rangers are looking at. Guys who can come in do well and sell on and make a good profit on it and put back into the first team squad.”
Morelos got signed from Finnish club HJK in 2017.
Dubbed as El Buffalo, Morelos also earned an international call up from Carlos Queiroz, owing to his incredible run of form.
He also got playing time in the friendlies against Japan and South Korea.
His performances led to praises from national team-mates James Rodriguez and Radamel Falcao.
Morelos has had constant issues with regards to discipline, throughout the season. As a result, he has collected five red cards, an unnecessary record for any player.
His recent red card was against Celtic in the Old Firm derby last month when he elbowed Scott Brown.
He is currently serving his ban for an accumulation of five red cards.
Steven Gerrard, the Gers manager, has bounced back well with three consecutive wins after the derby defeat.
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Jermain Defoe and Scott Arfield shined for the Gers in the absence of key players Morelos and Ryan Kent.
The Light Blues will host Aberdeen this Sunday in a Premiership clash at Ibrox.