Morgan Stanley analyst Adam Jonas upgraded shares of Tesla to Buy from Hold, Sunday. His price target went to a Street high of $400 a share. He calls Tesla...
Morgan Stanley analyst Adam Jonas upgraded shares of Tesla to Buy from Hold, Sunday. His price target went to a Street high of $400 a share, up from $250 a share. He calls Tesla his top pick.“The autonomous car has been described as the mother of all AI projects,” wrote Jonas.
“Investors have long debated whether Tesla is an auto company or a tech company,” added Jonas. “We believe it’s both.” What’s more, he sees software and services revenue being the biggest driver of potential value creation for the company. Tesla stock wasn’t trading Sunday night when the report was published. Investors can likely expect 3 to 5 percentage points of outperformance for Tesla shares relative to the market on Monday.
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