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In a report published Wednesday, Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on
Tesla MotorsTSLA, and raised the price target from $149.00 to $153.00.
In the report, Morgan Stanley noted, “Tesla's 3Q results, while good enough to keep the bull thesis of ‘America's Fourth Automaker' well intact, were not strong enough to raise consensus expectations near term. For a momentum stock up 400% YTD, TSLA deserves a modest correction.”
Tesla Motors closed on Tuesday at $176.80.
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