UPDATE: Morgan Stanley Reiterates Overweight Rating, Removes PT on Tesla Motors on Increasing Investor Concerns

In a report published Thursday, Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on

, but removed the $320.00 price target. In the report, Morgan Stanley noted, “Investors are increasingly concerned about how the market will react to a possible YoY decline in N. American deliveries of the Model S in 2014. We believe a decline in NA deliveries is not only possible, but is likely… and reasonable. In fact, we'd argue that anyone with a FY14 global delivery forecast of less than 35k units has a global geographic split that clearly implies a YoY decline of Model S volume in N. America, if not a severe deceleration to near 0% growth. Will the headlines matter for how the stock trades? Very possibly. Are we fundamentally concerned? No.” Tesla Motors closed on Wednesday at $207.89.